The Following Direct Materials Variance Computations Are Incomplete

question 143

Essay

The following direct materials variance computations are incomplete. Fill in the missing values, and identify the direct materials flexible budget variance as favorable or unfavorable.
Direct materials price variance = ($? - $12.50)× 7,000 pounds = $3,500 U
Direct materials quantity variance = (? - 6,700 pounds)× $12.50 = ? U
Direct materials flexible budget variance = $?

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Definitions:

Social Domain Approach

A theoretical perspective in social psychology that categorizes social knowledge into different domains, such as moral, social-conventional, and personal.

Moral

Related to principles or rules of right conduct or the distinction between right and wrong behaviors.

Social-Conventional

refers to norms and rules that guide behavior in social situations, distinguishing between societal conventions and moral principles.

Instrumental Aggression

Aggressive behavior aimed at achieving a specific goal or outcome, rather than occurring from anger or frustration.