Reichs Company the Following Information Is for Reichs Company's September

question 84

Multiple Choice

Reichs Company The following information is for Reichs Company's September production:
$\begin{array}{ll}\textbf { Standard: }\\\text { Material } & 4.0 \text { feet per unit } @ \$ 3.75 \text { per foot } \\\text { Labor } & 3.0 \text { hours per unit } @ \$ 8.25 \text { per hour }\end{array}$

$\begin{array}{ll}\textbf { Actual: }\\\text { Production } & 3,500 \text { units produced during the month } \\\text { Material } & 14,200 \text { feet used; } 14,700 \text { feet purchased @ } \$ 3.70\text { per foot } \\\text { Labor } & 10,400 \text { direct labor hours } \$ 8.35\text { per hour }\end{array}$ (Round all answers to the nearest dollar.)
Refer to Reichs Company.What is the material price variance (calculated at point of purchase) ?

• A)$ 735 F
• B)$ 735 U
• C)$ 710 F
• D)$ 710 U

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Definitions:

Graduate Assistantships

Financial aid options for graduate students involving part-time work in teaching or research in exchange for tuition waivers and a stipend.

Sample Points

Individual units or entities selected from a population for the purpose of statistical analysis or study.

Mutually Exclusive

Two events that cannot occur at the same time within a given experiment or scenario.

Independent Events

Two or more events in probability where the occurrence of one event does not affect the probability of occurrence of the other event(s).