Thrope,Inc

question 180

Essay

Thrope,Inc.purchased 1,700 pounds of direct material at a price of $1.20 per pound.The standard price of the material is $1.30 per pound.Thrope used 1,500 pounds in production while the standard pounds allowed for actual production was 1,300.

Required:

Calculate the direct materials price and quantity variances and indicate whether the variances are favorable or unfavorable.

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Definitions:

Amygdala

A part of the brain's limbic system involved in processing emotions such as fear, pleasure, and anger.

Hippocampus

A major part of the brain involved in learning and memory.

Medulla

A part of the brainstem that controls vital bodily functions such as heart rate, breathing, and blood pressure.

Biological Clock

An internal mechanism in organisms that regulates biological rhythms and cycles, such as sleep-wake cycles, often in response to environmental cues.