The Costmore Company Uses Standard Costing and Has Established the Following

question 23

Multiple Choice

The Costmore Company uses standard costing and has established the following standards for direct materials and direct labor for each unit it makes: During July,the company made 4,000 units of product and used 13,000 gallons.The actual price paid for materials was $5.20 per gallon. Direct Labor used was 3,600 hours and workers were paid $11.75 per hour.
An analysis would indicate

• A) a $5,000 unfavorable materials quantity variance.
• B) a $7,600 favorable materials quantity variance.
• C) a $2,600 favorable materials quantity variance.
• D) a $7,600 unfavorable materials quantity variance.

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Definitions:

Selective Breeding

The process of breeding plants or animals for specific genetic traits, aiming to enhance desirable characteristics across generations.

Relatedness

The feeling or condition of being connected or related to others, frequently discussed in psychology in the context of social relationships and human motivation.

Basic Genome

The complete set of genetic information (DNA) in an organism or cell, providing the basic instructions for growth, development, and functioning.

Prader-Willi Syndrome

A genetic disorder characterized by a range of physical, mental, and behavioral problems including a constant sense of hunger, leading to obesity and type 2 diabetes.