Global Company makes a product that is expected to use 2.2 pounds of material per unit of product. The material has a standard cost of $2 per pound. Global actually used 2.3 pounds of material per unit of product made in January. The actual cost of material was $1.95 per pound. Based on this information alone, the materials variances for the January production would be:
A. Favorable for price and unfavorable for usage.
B. Favorable for price and favorable for usage.
C. Unfavorable for price and unfavorable for usage.
D. Unfavorable for price and favorable for usage.
Answer: A
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Suppose you own a mutual fund which has 11,326,555 shares outstanding. If its total assets are $70,111,050 and its liabilities are $12,444,100, find the net asset value of the fund.
A. $5.09 B. $5.13 C. $5.36 D. $5.98
Which of the following owner's equity accounts follow the same debit and credit rules as liabilities?
A) Expense accounts only B) Drawing accounts only C) Revenues accounts only D) Expenses and drawing accounts
The Fifth Amendment privilege against ____ applies to natural persons, but business entities, such as corporations, may not claim the privilege
Fill in the blanks with correct word
A consequence of living without a daily plan is that one carries everything with them “just in case.”
a. True b. False