Dillon Has a Standard of 1

question 137

Multiple Choice

Dillon has a standard of 1.5 pounds of materials per unit at $6 per pound. In producing 2000 units Dillon used 3100 pounds of materials at a total cost of $18135. Dillon's materials quantity variance is

• A) $135 F.
• B) $465 U.
• C) $600 U.
• D) $1050 U.

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Definitions:

Simple Interest

Interest figured solely on the initial sum, excluding any compounded amounts.

Maturity Value

The amount that will be received at the end of a fixed-term investment, including the principal and any accumulated interest.

Initial Amount

The starting amount of money before any growth or shrinkage due to interest or losses.

Simple Interest Rate

A fixed percentage of the principal amount that is paid or earned over a specific period of time, not compounding.