If the Standard to Produce a Given Amount of Product

question 146

True/False

If the standard to produce a given amount of product is 1,000 units of direct materials at $11 and the actual was 800 units at $12, the direct materials price variance was $1,000 favorable.

---

Definitions:

Ronald Reagan

The 40th President of the United States, serving from 1981 to 1989, noted for his conservative policies and role in ending the Cold War.

Gerald Ford

The 38th President of the United States, who assumed office following the resignation of Richard Nixon and is known for his efforts to heal the nation post-Watergate scandal.

Presidential Election

The process through which the president of a country or a head of state is elected, often involving a nationwide vote.

Iranian Hostages

refers to the 52 American diplomats and citizens held hostage for 444 days after a group of Iranian students supporting the Iranian Revolution took over the U.S. Embassy in Tehran in November 1979.