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:
Trial Closes
Sales technique involving questions or statements that move the customer towards agreement incrementally, used to gauge interest or objections before the final ask.
Sales Presentation
A sales presentation is a pitch or demonstration aimed at persuading an audience to purchase a product or service.
Financing Challenges
Difficulties or obstacles encountered in obtaining funds or capital to launch or expand a business.
Delivery Schedule
A detailed plan specifying the timing and sequence for the distribution or arrival of goods and services.
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