Luma Inc Has Provided the Following Data Concerning One of the the Products

question 123

Multiple Choice

Luma Inc. has provided the following data concerning one of the products in its standard cost system.
The company has reported the following actual results for the product for September:

-The raw materials quantity variance for the month is closest to:

• A) $69 F
• B) $78 F
• C) $69 U
• D) $78 U

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Definitions:

ETFs

Exchange-Traded Funds are investment funds traded on stock exchanges, much like stocks, and hold assets such as stocks, commodities, or bonds.

NAV

Net Asset Value; the total value of a fund's assets minus its liabilities, usually expressed as a price per share.

Wilshire 5000 Index

A market-capitalization-weighted index of the market value of all US-based stocks actively traded in the United States.

Mutual Fund

An investment vehicle comprised of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments, and other assets.