Miguez Corporation Makes a Product with the Following Standard Costs

question 81

Multiple Choice

Miguez Corporation makes a product with the following standard costs:
The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.
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 September is:

• A) $2,170 U
• B) $2,232 U
• C) $2,170 F
• D) $2,232 F

Understand Hofstede's cultural dimensions model and its implications for international management.

Identify the characteristics of high and low uncertainty-avoidance cultures.

Recognize the traits of loose and tight cultures.

Comprehend the significance of power distance in different cultures.

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Definitions:

Lith/o

A combining form used in medical terminology to denote a relation to stones or calculi, particularly in the organs of the urinary tract or gallbladder.

Combining Vowel

A letter, often 'o', used in medical terminology to join word roots, making the term easier to pronounce.

Polydipsia

A medical condition characterized by excessive thirst and fluid intake.

Poly-

A prefix in medical terminology meaning 'many' or 'much'.