The Fletcher Company Uses Standard Costing What Was the Standard Quantity of Material Allowed for October

question 146

Multiple Choice

The Fletcher Company uses standard costing.The following data are available for October: $\begin{array} { l r } \text { Actual quantity of direct materials used } & 23,500 \text { kilograms } \\\text { Standard price of direct materials } & \$ 2 \text { per kilogram } \\\text { Materials quantity variance } & \$ 1,000 \text { favourable }\end{array}$ What was the standard quantity of material allowed for October production?

• A) 23,000 kilograms.
• B) 24,000 kilograms.
• C) 24,500 kilograms.
• D) 25,000 kilograms.

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Definitions:

Office Equipment

Items and machinery used in an office to assist in tasks and operations, such as computers, printers, and furniture.

Profit Made

The revenue remaining after all expenses have been deducted from total sales.

Derivative Action

A lawsuit brought by a corporation's shareholder on behalf of the company against a third party, often for breach of fiduciary duty.

Shareholder

An individual or entity that owns shares in a company, giving them a claim on part of its assets and earnings.