A Manufacturer Planned to Use $82

question 145

Multiple Choice

A manufacturer planned to use $82.00 of materials per unit produced, but in the most recent period it actually used $80.00 of material per unit produced. During this same period, the company planned to produce 1,200 units, but actually produced only 1,000 units. The flexible-budget variance for materials, to the nearest dollar, is:

• A) $2,000 favorable.
• B) Impossible to determine without additional information.
• C) $14,000 unfavorable.
• D) $16,400 unfavorable.
• E) $2,400 unfavorable.

Recognize the importance of research in understanding human and animal behaviour.

Understand the role of psychology in addressing human needs and potential.

Differentiate between various schools of thought within psychology and their views on human nature and behaviour.

Recognize the significance of cultural and evolutionary factors in shaping human behaviour.

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Definitions:

Barriers To Entry

Factors that make it difficult for new competitors to enter an industry, often protecting existing companies from competition.

Demand Curves

A graphical representation used in economics to show the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase at various prices.

Long Run

When all costs become variable costs and firms can enter or leave the industry.

Covert Collusion

A secretive agreement among firms to fix prices, limit production, or divide markets, which is illegal and against regulatory policies.