Devoto Inc

question 242

Multiple Choice

Devoto 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 June:

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

• A) $51,600 U
• B) $48,568 F
• C) $51,600 F
• D) $48,568 U

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Definitions:

Insurance Contract

An Insurance Contract is a legal agreement between an insurer and the insured, outlining the policy terms, coverage limits, and premiums for the risk assumed by the insurer.

Insurer Accepts

The act of an insurance company agreeing to take on the risk and provide coverage as outlined in the insurance policy.

Binder

A temporary insurance contract that provides coverage until a permanent policy is issued.

Homeowner's Insurance

Insurance coverage that protects against damages to a person's home and possessions within the home, along with liability coverage for accidents that happen at the home or at the hands of the homeowner within the policy territory.