Magno Cereal Corporation Uses a Standard Cost System for Its

question 260

Multiple Choice

Magno Cereal Corporation uses a standard cost system for its "crunchy pickle" cereal. The materials standard for each batch of cereal produced is 1.4 pounds of pickles at a standard cost of $3.00 per pound. During the month of August, Magno purchased 78,000 pounds of pickles at a total cost of $253,500. Magno used all of these pickles to produce 60,000 batches of cereal. What is Magno's materials quantity variance for August?

• A) $1,500 Unfavorable
• B) $18,000 Favorable
• C) $19,500 Unfavorable
• D) $54,000 Unfavorable

Understand the diverse impacts and intentions of foreign aid in developing countries.

Grasp the fundamental role of education in promoting advanced farming techniques and technology adoption.

Recognize the pros and cons of economic strategies like privatization, export promotion, and import substitution for developing economies.

Assess the benefits and challenges associated with migration for poor countries.

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Definitions:

Government Military Contracts

Agreements or contracts between a government and private companies for the provision of goods and services to the military or for defense purposes.

Nation's Top Corporations

The leading companies in a country, typically measured by revenue, profitability, or market capitalization.

Closed-Shop

A workplace where employment is conditional upon the employee's membership in a labor union, typically found in industries with strong union representation.

National War Labor Board

A government agency established in World War I and again during World War II to mediate labor disputes and avoid strikes that would disrupt wartime production.