Devoto Inc

question 55

Multiple Choice

Devoto Inc. has provided the following data concerning one of the products in its standard cost system. The company has reported the following actual results for the product for June:
The raw materials price variance for the month is closest to:

• A) $51,600 U
• B) $48,568 F
• C) $51,600 F
• D) $48,568 U

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Definitions:

Reducing Wait Time

The process of minimizing the amount of time customers or clients have to wait for service or product delivery.

Reducing Inventory

The process of decreasing the amount of goods or materials a company holds, often aimed at improving efficiency and reducing cost.

Within-Batch Wait Time

The delay experienced by units within a batch during a production process before they are processed.

Total Lead Time

The cumulative time required for a product to complete all stages of production, from initiation to final delivery.