Bumgardner Inc

question 53

Multiple Choice

Bumgardner 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 April:
The direct materials purchases variance is computed when the materials are purchased.
The raw materials quantity variance for the month is closest to:

• A) $50 U
• B) $57 U
• C) $57 F
• D) $50 F

---

Definitions:

Exempt

Income, property, or persons not subject to taxation under certain conditions or qualifications.

Itemized Deduction

Itemized Deduction involves listing individual tax deductions for which a taxpayer qualifies, as opposed to taking a standard deduction, to reduce taxable income.

Tax Refund

The return of excess taxes paid to a taxpayer by the government, typically after the annual income tax filing.

Cash Receipts

The total amount of money, including cash, checks, and credit card payments, received by a business during a given period.