From the Following Particulars of Rose Mary Company, Calculate the Total

question 91

Multiple Choice

From the following particulars of Rose Mary Company, calculate the total direct materials variance.

• A)$150 U
• B)$300 F
• C)$150 F
• D)$300 U

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Definitions:

360-Day Year

An accounting convention that simplifies interest calculations by assuming there are 360 days in a year.

Note Payable

A financial obligation or loan evidenced by a written promissory note specifying payment terms.

Discounted Note

A promissory note whose proceeds are issued at a price lower than its face value, with the difference compensating the lender for risk.

360-Day Year

An accounting convention that simplifies interest calculation by assuming all months have 30 days, resulting in a 360-day year.