If the Standard to Produce a Given Amount of Product

question 160

True/False

If the standard to produce a given amount of product is 1,000 units of direct materials at $11 and the actual was 800 units at $12, the direct materials price variance was $800 favorable.

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Definitions:

1971

This is not a key term in the context of a definition.

Mechanical Calculator

A device used to perform automatic mathematical operations, developed before the advent of electronic calculators.

Astronomical Tables

Charts or tables that present the positions of celestial bodies at various times, used for navigation, astrology, and astronomy.

Steam-powered

Refers to machines or vehicles that operate using the power generated by steam, historically significant in the industrial revolution for powering locomotives, ships, and factories.