Using the Standard Costs of $5 Per Pound for a 10

question 6

Multiple Choice

Using the standard costs of $5 per pound for a 10 pound bag of chocolate and the following actual cost and usage data,compute the direct materials variance. $$\begin{array} { l l } \text { Direct materials purchased and used } & 99,000 \text { pounds } \\\text { Price paid far direct materials } & \$ 4.00 \text { per pound } \\\text { Number of pood urits produced } & 9,000 \text { units }\end{array}$$

• A) $45,000 (F)
• B) $45,000 (U)
• C) $54,000 (F)
• D) $99,000 (F)

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Definitions:

Personal Income

The total earnings received by individuals, including wages, salaries, and other forms of income.

Property Income

Income from the ownership of real property and financial holdings. It takes the form of profits, interest, dividends, and rents.

Personal Income

The total amount of income garnered by individuals from all sources before taxes.

Transfer Program

Government initiatives designed to redistribute income across different sectors of the population through mechanisms like welfare benefits or social security payments.