The Standard Materials Cost to Produce 1 Unit of Product

question 155

Multiple Choice

The standard materials cost to produce 1 unit of Product M is 6 pounds of material at a standard price of $50 per pound. In manufacturing 8,000 units, 47,000 pounds of material were used at a cost of $51 per pound. What is the total direct materials cost variance?

• A) $48,000 unfavorable.
• B) $51,000 favorable.
• C) $51,000 unfavorable.
• D) $3,000 favorable.
• E) $3,000 unfavorable.

Recognize the ecological and economic importance of biodiversity.

Understand the concept of biophilia and its implications for conservation.

Grasp the significance of habitat in species survival and the concept of habitat "islands".

Understand the factors contributing to the premature extinction of species.

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Definitions:

Working Prototype

A prototype that has enough features to be used for testing and validation of a product concept.

Crowdsourcing

The practice of obtaining ideas, services, or content by soliciting contributions from a large group of people, typically from an online community.

Financial Capital

The monetary resources and assets owned or available to an individual, organization, or country for use in production or investing.

Crowdfunding Model

A method of raising capital through the collective effort of friends, family, customers, and individual investors.