Scarlett Company has a direct materials standard of 3 gallons of input at a cost of $5 per gallon. During July, Scarlett Company purchased and used 7,500 gallons. The direct materials quantity variance was $750 unfavorable and the direct materials price variance was $3,000 favorable. How many units were produced?
A. 2,500 units
B. 7,500 units
C. 2,450 units
D. 7,350 units
Answer: C
You might also like to view...
Karvel Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. For the month of August, Karvel estimated total manufacturing overhead costs at $300,000 and total machine-hours at 75,000 hours. Actual results for the period were manufacturing overhead costs of $290,000 and 75,000 machine-hours. As a result, Karvel would have:
A. applied an amount of overhead to Work in Process that was equal to the actual amount of overhead. B. found it necessary to recalculate the predetermined overhead rate. C. applied more overhead to Work in Process than the actual amount of overhead cost for the year. D. applied less overhead to Work in Process than the actual amount of overhead cost for the year.
Which of the following statements is correct?
A. The value of the SQLCODE can be used directly in an SQL statement. B. The value of the SQLCODE is assigned to a variable. C. The value of the SQLCODE can not be assigned to a variable. D. The value of the SQLERRM can be used directly in an SQL statement.
In a world with no taxes, Modigliani and Miller (MM) show that a firm's capital structure does not affect its value. However, when taxes are considered, MM show a positive relationship between debt and value, i.e., the firm's value rises as it uses more and more debt, other things held constant.
Answer the following statement true (T) or false (F)
Which of the following reasons best explains why earnings per share (EPS) is such a popular measure to evaluate a company?
A. EPS provides specific information about the ability of a company to repay its long-term debts. B. EPS provides information that investors can factor into their expectations about future dividends and stock prices. C. EPS makes it easy to compare one company with another. D. EPS is an excellent measure of how efficiently long-lived assets are being utilized.