Mcphail Incorporated has a standard cost system. The standards for direct materials for one of its products specify 6.6 grams of a particular input per unit of output at a standard cost of $7.40 per gram. The company has reported the following actual results for the product for September:
Required:
a. Compute the materials price variance for this input for September.
b. Compute the materials quantity variance for this input for September.
Definitions:
Automating Business Processes
The use of technology to perform recurring tasks or processes in a business where manual effort can be replaced, improving efficiency.
WSDL
Web Services Description Language, a format for describing network services as a set of endpoints operating on messages containing either document-oriented or procedure-oriented information.
Web Services
A standard means of interoperating between different software applications, running on a variety of platforms and/or frameworks over the Internet.
Web Services
Software systems designed to support interoperable machine-to-machine interaction over a network.
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