Jam Life Inc

question 58

Multiple Choice

Jam Life Inc.manufactures jam products.It makes a mixed fruit and berry jam by blending strawberries, peaches, and apricots.Budgeted costs to produce 100,000 kilograms of jam in September were:
Actual costs to produce 100,000 kilograms of jam in September were:

-What is the direct material yield variance for Strawberry Jam? (3 marks)

• A)$9,000 F
• B)$9,000 U
• C)$38,750 F
• D)$5,000 F
• E)$5,000 U

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Definitions:

Branch Banking

The operation of a banking service through multiple branches located in different areas, offering a wide range of services to customers across locations.

States

Individual territorial units constituting a federal union, such as those that make up the United States, each with its own government and a degree of autonomy.

Money Supply

The entire sum of available monetary assets in an economy, comprising cash, coins, and the amounts held in checking and savings accounts, at a specific point.

Standard of Value

A recognized measure that is used to set the value of financial transactions, assets, or liabilities, enabling comparability across different entities or time periods.