Better Blankets, Inc. makes a SnuggieBlank using flannel material and trim binding. They have instituted a successful JIT system and thus no longer have to stock inventory prior to their production need. The Standard Cost Card for The SnuggieBlank model is shown.
STANDARD COST CARD
The company reported the following results concerning January:
-The material quantity variance for Trim used in January is:
Definitions:
Toxic Substances Control Act
A United States law enacted in 1976 that gives the Environmental Protection Agency authority to regulate the manufacture and sale of chemicals.
Industrial Chemicals
Chemical substances manufactured for use in industrial processes or products, distinct from pharmaceuticals, agricultural chemicals, or food additives.
EPA
The Environmental Protection Agency, a U.S. federal agency responsible for protecting human health and the environment by enforcing regulations based on laws enacted by Congress.
Produced
Refers to goods or services created as a result of a process that involves transforming inputs into outputs.
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