The Following Materials Standards Have Been Established for a Particular

question 396

Multiple Choice

The following materials standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: What is the materials price variance for the month?

• A)$3,141 U
• B)$2,025 U
• C)$8,600 U
• D)$8,725 U

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Definitions:

Subsidies

Financial support that governments provide to businesses, individuals, or other governmental entities, usually aimed at economic benefits or promoting certain activities or products.

Ethanol

A biofuel produced from various plant materials, commonly used as a renewable alternative to gasoline.

Market

A place or situation in which buyers and sellers engage in the exchange of goods and services.

Pareto Efficiency

A rephrased definition: An economic condition where resources cannot be redistributed to benefit someone without adversely affecting others.