Wimberly Company Wimberly Company Has the Following Information Available for March

question 125

Multiple Choice

Wimberly Company Wimberly Company has the following information available for March when 4,200 units were produced (round answers to the nearest dollar) .
Refer to Wimberly Company. What is the material price variance (based on quantity purchased) ?

• A) $2,505 F
• B) $2,505 F.
• C) $2,625 F
• D)$2,625 F

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Definitions:

Cost of Goods Available for Sale

The total cost of a company's inventory at the beginning of the period plus the cost of any goods produced or purchased during the period.

Direct Materials Cost

The cost of raw materials that can be directly traced to the production of goods.

Cost of Goods Manufactured

The total cost of producing goods during a specific period, including raw materials, labor, and overhead expenses.

Adjusted Cost of Goods Sold

The cost of goods sold that has been adjusted for changes in inventory levels or valuation methods.