Doogan Corporation Makes a Product with the Following Standard Costs

question 30

Multiple Choice

Doogan Corporation makes a product with the following standard costs: The company produced 5,200 units in January using 39,310 grams of direct material and 2,380 direct labor-hours. During the month, the company purchased 44,400 grams of the direct material at $1.70 per gram. The actual direct labor rate was $19.30 per hour and the actual variable overhead rate was $6.80 per hour.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 variable overhead efficiency variance for January is:

• A) $1,496 Favorable
• B) $1,496 Unfavorable
• C) $1,540 Unfavorable
• D) $1,540 Favorable

Recognize the significance of social psychology experiments in understanding human behavior.

Understand and articulate the basic elements of emotion and their significance.

Recognize and describe the types of needs according to McClelland, including the need for achievement, affiliation, and power.

Apply the concept of psychological needs to interpret real-life situations.

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Definitions:

Economic Efficiency

A state in which resources are allocated in a way that maximizes the production of goods and services at the lowest cost, while achieving the highest possible welfare or utility.

Negative Externalities

Costs experienced by third parties due to the actions of others that are not reflected in market prices.

Clayton Act

A U.S. antitrust law, adopted in 1914, aimed at protecting competition by prohibiting certain actions that lead to anticompetitiveness.

Celler-Kefauver Act

A U.S. law enacted in 1950 to amend the Clayton Act, aiming to prevent anti-competitive mergers and acquisitions by prohibiting the acquisition of assets if the effect reduces competition.