Examlex

Solved

The Following Data Relate to Direct Materials Costs for November

question 23

Multiple Choice

The following data relate to direct materials costs for November:
The following data relate to direct materials costs for November:    -What is the direct materials quantity variance? A) $550 unfavorable B) $550 favorable C) $600 favorable D) $600 unfavorable
-What is the direct materials quantity variance?


Definitions:

Information Technology

The study or use of systems (especially computers and telecommunications) for storing, retrieving, and sending information.

International Standards

These are agreements set by international organizations that dictate certain specifications, guidelines, or characteristics to ensure products, services, and systems are safe, reliable, and interchangeable worldwide.

IFRS

A collection of accounting principles formulated by the International Accounting Standards Board, known as International Financial Reporting Standards, that aid in the global creation of financial reports.

GAAP

Generally Accepted Accounting Principles, a collection of commonly-followed accounting rules and standards used in financial reporting within the United States.

Related Questions