Vin Corporation Has the Following Data Related to 100 Units

question 15

Multiple Choice

Vin Corporation has the following data related to 100 units of final product: $\begin{array} { l } \text {Materials: }\\ \text {Standard: }& \text { 300 pounds at \( \$ 3.00 \) per pound}\\ \text { Actual:}& \text {280 pounds at \( \$ 2.75 \) per pound }\\\end{array}$

What is the material usage variance for Vin Corporation?

• A)$60 favorable
• B)$60 unfavorable
• C)$55 favorable
• D)$55 unfavorable

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Definitions:

Dominant Strategy

In game theory, a strategy that is best for a player regardless of what strategies other players choose.

Prisoners' Dilemma

A concept in game theory where two individuals acting in their own self-interest do not produce the optimal outcome.

Tacit Collusion

A form of collusion in which businesses subtly coordinate actions without explicit agreement, aiming to raise prices or stabilize market conditions.

Legal

Pertains to matters governed by law, statutes, or regulations and recognized or enforced by a judicial system.