Standard and Actual Costs for Direct Materials for the Manufacture

question 29

Essay

Standard and actual costs for direct materials for the manufacture of 2,000 units of product were as follows: $$\begin{array} { l l } \text { Actual costs } & 2,750 \mathrm { lbs } . @ \$ 8.10 \\\text { Standard costs } & 2,800 \mathrm { lbs } . @ \$ 8.00\end{array}$$ ?
Determine the (a) quantity variance, (b) price variance, and (c) total direct materials cost variance.

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Definitions:

Defense Mechanism

Psychological strategies brought into play by individuals or the psyche to manage stress, anxiety, and internal or external demands that are perceived as threatening.

Displacement

In psychology, a defense mechanism involving the transfer of an emotional response from the original object to a safer or more convenient target.

Fails An Exam

The occurrence of not achieving a passing grade or mark on an academic evaluation.

Defense Mechanism

Psychological strategies brought into play by the unconscious mind to manipulate, deny, or distort reality in order to defend against feelings of anxiety and unacceptable impulses.