Ewing Corporation's Controller Has Developed the Cost and Usage Data

question 55

Multiple Choice

Ewing Corporation's controller has developed the cost and usage data listed below in preparation of standard unit cost information for the coming year. $\begin{array} { lr } \text { Direct materials quantity standard}& \text {3 pounds per product }\\ \text {Direct labor time standard }& \text {5 hours per product }\\ \text {Direct materials price standard }& \text { \( \$ 10 \) per pound}\\ \text {Direct labor rate standard }& \text { \( \$ 9 \) per hour}\\ \text { Standard variable overhead rate}& \text { \( \$ 5 \) per labor hour}\\ \text { Standard fixed overhead rate}& \text {\( \$ 10 \) per labor hour }\\\end{array}$
The total standard unit cost is

• A) $105.
• B) $150.
• C) $260.
• D) $34.

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Definitions:

Technique

A specialized procedure or skill set used to accomplish a specific task effectively.

Nominal Data

A type of categorical data where categories are named labels without any intrinsic ordering.

Chi-squared Test

A nonparametric statistical test used to assess the association between categorical variables or to determine the goodness of fit between observed data and expected outcomes.

More Than Two Categories

Refers to situations or conditions where a variable or outcome can fall into more than two distinct groups or classifications.