Regent Corp

question 95

Essay

Regent Corp.uses a standard cost system to account for the costs of its one product.Materials standards are 3 pounds of material at $14 per pound,and labor standards are 4 hours of labor at a standard wage rate of $11.During July Regent Corp.produced 3,300 units.Materials purchased and used totaled 10,100 pounds at a total cost of $142,650.Payroll totaled $146,780 for 13,150 hours worked.Calculate the:
a.direct materials price variance.
b.direct materials quantity variance.

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Definitions:

Sexual Norms

Accepted rules or standards within a society or group regarding sexual behavior and practices.

Contemporary America

The modern or current period in the United States, often focusing on cultural, social, political, and technological aspects.

Human Sexuality

The way humans experience and express themselves sexually, encompassing a wide range of behaviors, orientations, and identities.

Equity Theory

A theory of motivation that suggests employees are more likely to be motivated and satisfied if they perceive their treatment in the workplace as fair, particularly in comparison with others.