Myers Corporation Has the Following Data Related to Direct Materials

question 53

Multiple Choice

Myers Corporation has the following data related to direct materials costs for November: actual costs for 5,000 pounds of material, $4.50; and standard costs for 4,800 pounds of material at $5.10 per pound.​What is the direct materials price variance?

• A) $3,000 favorable
• B) $3,000 unfavorable
• C) $2,880 favorable
• D) $2,880 unfavorable

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Definitions:

Neo-Malthusian

Relating to the belief in population control through the use of contraception and family planning, updating Thomas Malthus's predictions about population growth and sustainability.

Garrett Hardin

An American ecologist who famously discussed the "Tragedy of the Commons," highlighting the conflict between individual interests and common good in resource usage.

Sustainable Development

The practice of meeting current societal needs without compromising the ability of future generations to meet their own, integrating economic, environmental, and social considerations.

Mortality

The state of being subject to death; often used to describe the rate of death within a population.