Use the Following Information to Answer the Following Questions

question 43

Multiple Choice

Use the following information to answer the following Questions
Thomas Enterprises purchased 56,000 pounds (cost = $420,000) of direct material to be used in the manufacture of the company's sole product. According the production specifications, each completed unit requires five pounds of direct material at a standard cost of $7.80 per pound. Direct materials consumed by the end of the period totaled 53,500 pounds in the manufacture of 10,900 finished units.
An examination of Thomas’ payroll records revealed that the company worked 22,000 labor hours (cost = $319,000) during the period, and specifications called for each completed unit requiring two hours of labor at a standard cost of $14.80 per hour. Assume that the company computes variances at the earliest point in time.

-Thomas' direct-material price variance was:

• A) $16,050F.
• B) $16,050U.
• C) $16,800F.
• D) $16,800U.
• E) None of the answers is correct.

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Definitions:

Social and Political Change

Transformations in the structure or policies of a society or political system, often driven by collective movement or governmental reform.

Managing Diversity Programs

The coordination of activities and strategies to encourage diversity and inclusion within an organization's culture.

Organizational Flexibility

The ability of a company to adapt quickly to market changes or internal innovations, allowing for responsive and effective operations.

Organizational Loyalty

The degree of commitment an employee has towards their organization, often manifesting in hard work and advocacy for the company.