Milar Corporation Makes a Product with the Following Standard Costs

question 218

Multiple Choice

Milar Corporation makes a product with the following standard costs:
In January the company produced 2,000 units using 16,060 pounds of the direct material and 210 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $65,910. The actual direct labor cost was $4,473 and the actual variable overhead cost was $756.
The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.
-The materials quantity variance for January is:

• A) $2,640 U
• B) $2,574 F
• C) $2,640 F
• D) $2,574 U

Recognize the value of qualitative research in exploring new areas.

Understand the impact of varied research designs on the knowledge base according to Kerlinger's MAXMINCON principle and Gelso's bubble hypothesis.

Understand the concept of personal integrity and its importance in leadership.

Comprehend the stages in Kohlberg's model of moral development.

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Definitions:

Liability Insurance

Insurance coverage that protects against claims arising from injuries or damages to other people or property.

Malpractice

Failure by a professional to perform their duties to the required standard of conduct, often resulting in harm to a client or patient.

Freelance Paralegals

Paralegals who work on a contract basis for various law firms or attorneys, rather than being employed by a single firm.

Civil Lawsuit

A legal dispute between two or more parties seeking monetary damages or specific performance rather than criminal sanctions.