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Mcphail Inc

question 418

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Mcphail Inc.has a standard cost system.The standards for direct materials for one of its products specify 6.6 grams of a particular input per unit of output at a standard cost of $7.40 per gram.The company has reported the following actual results for the product for September: Mcphail Inc.has a standard cost system.The standards for direct materials for one of its products specify 6.6 grams of a particular input per unit of output at a standard cost of $7.40 per gram.The company has reported the following actual results for the product for September:   Required: a.Compute the materials price variance for this input for September. b.Compute the materials quantity variance for this input for September. Required:
a.Compute the materials price variance for this input for September.
b.Compute the materials quantity variance for this input for September.


Definitions:

Organizational Pressure

The internal or external forces that influence the behaviors and decisions of individuals within a company.

Internal Source

Originating from within an organization or individual, as opposed to coming from external influences.

Workplace Diversity

The inclusion of a variety of people in a workplace, encompassing differences in race, ethnicity, gender, age, religion, ability, and sexual orientation.

Social Norms

Informal understandings that govern the behavior of members of a society, dictating how individuals are expected to behave in specific situations.

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