Reference: 21_08 Fairfield Co. Has Collected the Following Information About Its Production

question 19

Essay

Reference: 21_08
Fairfield Co. has collected the following information about its production activities for the current year:
Actual costs and quantities:
Direct materials used 95,000 lbs. @ $6.30 per lb.
Units completed during the year, 50,000 units
Standard costs and quantities:
Price per lb. of direct material, $6.05
Two lbs. of direct material per unit
-Calculate the direct materials price and quantity variances and indicate whether each is favorable or unfavorable.

---

Definitions:

Reinforcer

Any stimulus that increases the likelihood of a preceding behavior being repeated.

Intervention

A method or technique used to alter the course of an issue or problem, often applied in clinical, educational, or social contexts to improve outcomes.

Interobserver Reliability

A measure of the extent to which different observers produce consistent estimates or ratings of the same phenomenon, ensuring data accuracy.

Recording Technique

A method used to document or track specific behaviors, responses, or events, often utilized in research or behavioral analysis.