Shoemaker Perkins Company Uses a Standard Cost System and Had

question 155

Multiple Choice

Shoemaker Perkins Company uses a standard cost system and had 400 pounds of raw material X15 on hand on September 1. The standard cost of X15 is $10.00 per pound. The production standard calls for 2 pounds of material X15 for each unit of product manufactured. The company manufactured 600 units of the product in September, and had 500 pounds of material X-15 in stock on September 30. The actual price for material X-15 purchased during the month was $1 per pound below the standard cost. The material usage variance in September was $3,000 unfavorable. What is the purchase-price variance for material X in September, rounded to the nearest dollar?

• A) $1,100 favorable.
• B) $1,200 favorable.
• C) $1,300 favorable.
• D) $1,500 favorable.
• E) $1,600 favorable.

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Definitions:

Protestant-Catholic Conflict

Refers to historical tensions and hostilities between Protestants and Catholics, significantly influenced by theological disagreements and political conflicts.

Maryland

A state in the eastern United States, known for its waterways and coastlines on Chesapeake Bay and the Atlantic Ocean.

Religious Toleration

The acceptance of diverse religious beliefs and practices without persecution or discrimination.

Act Concerning Religion

Refers to the Maryland law passed in 1649 that guaranteed religious freedom to all Christians, also known as the Maryland Toleration Act.