Reference: 11-13 The Upton Company Employs a Standard Costing System in Which

question 30

Multiple Choice

Reference: 11-13
The Upton Company employs a standard costing system in which variable overhead is assigned to production on the basis of direct labour hours. Data for the month of February include the following:
Variable manufacturing overhead cost incurred: $48,700
Total variable overhead variance: $300 F
Standard hours allowed for actual production: 7,000
Actual direct labour hours worked: 6,840
-The materials price variance is?

• A)$420 U.
• B)$700 U.
• C)$700 F.
• D)$420 F.

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Definitions:

Mental Status

The level of cognitive, emotional, and psychological functioning or stability of an individual at a given time.

Separate Paragraph

A discrete section of writing that typically deals with a single theme or idea, separated from other paragraphs by spaces or indentation.

DSM

The Diagnostic and Statistical Manual of Mental Disorders, a comprehensive classification and diagnostic tool used by mental health professionals.

Psychosocial

Pertaining to the influence of social factors and individual psychological aspects on human behavior or development.