Milar Corporation Makes a Product with the Following Standard Costs

question 55

Multiple Choice

Milar Corporation makes a product with the following standard costs: In January the company produced 2,000 units using 16,060 pounds of the direct material and 210 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $65,910. The actual direct labor cost was $4,473 and the actual variable overhead cost was $756.The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The materials price variance for January is:

• A) $1,690 Unfavorable
• B) $1,540 Favorable
• C) $1,540 Unfavorable
• D) $1,690 Favorable

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Definitions:

Self-Control

The power to oversee one’s affective responses, mental activities, and actions in the presence of enticements and spontaneous inclinations.

Material Self

A concept referring to aspects of an individual's identity formed through relationships with physical entities, such as possessions, appearance, and environment.

True Self

An individual's authentic core identity, unshaped by external influences or societal expectations.

Self-Efficacy

The belief in one's own ability to succeed in specific situations or accomplish a task, which can play a significant role in how one approaches goals, tasks, and challenges.