Pippin Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.
The company has reported the following actual results for the product for June:
-The raw materials price variance for the month is closest to:
Definitions:
Working Capital Management
The management of a company's short-term assets and liabilities to ensure its efficient operation and maintain financial health.
Short-Term Assets
Assets that are expected to be converted into cash, sold, or consumed within one year or one business cycle, whichever is longer.
Liabilities
Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits including money, goods, or services.
Capital Structure Decisions
Strategic choices made by a firm regarding the mix of financial securities, such as debt and equity, to optimize its funding and operational goals.
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