Strong Manufacturing the Following Information Is Available for Strong Manufacturing

question 200

Multiple Choice

Strong Manufacturing The following information is available for Strong Manufacturing Company for the month of June when the company produced 2,100 units:
$\begin{array}{ll}\text { Standard: }\\\text { Material } & 2 \text { pounds per urit } @ \$ 5.80 \text { per pound } \\\text { Labor } & 3 \text { direct labor hours per urit @ } \$ 10.00 \text { per hour }\\\\\text { Actual: }\\\text { Material } & 4,250 \text { pounds purchased and used @ } \$ 5.65 \text { per pound } \\\text { Labor } & 6,300 \text { directlabor hours at } \$ 9.75 \text { per hour }\end{array}$ Refer to Strong Manufacturing Company.What is the material price variance?

• A)$637.50 U
• B)$637.50 F
• C)$630.00 U
• D)$630.00 F

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, usually with voting rights and potential for dividends.

Common Stock

Equity ownership in a corporation, with voting rights and eligibility to receive dividends.

Convertible Bonds

Bonds that can be converted into a predetermined number of a company's shares, typically at the discretion of the bondholder, blending debt and equity investment characteristics.

Diluted Earnings

A calculation of a company's earnings that takes into account all potential shares that could be claimed or converted into common stock, impacting the earnings per share metric.