A Company Has the Following Information Available About One of Its

question 44

Multiple Choice

A company has the following information available about one of its products:
$\begin{array}{ll}\text { Standard price per pound of input } & \$ 25 \\\text { Actual price per pound of input } & \$ 24 \\\text { Standard inputs per unit of output } & 3 \text { pounds } \\\text { Actual units of output } & 2,770 \\\text { Direct Materials Quantity Variance } & \$ 250 \mathrm{~F}\end{array}$
How many pounds of material were used?

• A) $8,300
• B) $8,310
• C) $8,320
• D) $8,330

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Definitions:

Credible Threat

A declaration or action by a party that it will follow through with a particular response if certain conditions are met, believed to be feasible by the other party.

Warranty

A guarantee, typically made by a manufacturer or seller, to repair or replace a product within a specified period if it is found to be faulty.

Dominant Strategy

A strategy that always provides greater utility to a player, regardless of the opponent's strategy.

Nash Equilibria

Nash Equilibria refer to a situation in a game where no player can benefit by changing strategies if other players keep theirs unchanged.