TaskMaster Enterprises Employs a Standard Cost System in Which Direct

question 70

Multiple Choice

TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost.TaskMaster has established the following standards for the prime costs of one unit of product. $$\begin{array} { | r r | r | r | } \hline& \text { Standard } & \text { Standard } & \text { Standard } \\&\text { Quantity } & \text { Price } & \text { Cost } \\\hline \text { Direct Materials } & 8 \text { pounds } & \$ 1.80 \text { per pound } & \$ 14.40 \\\hline \text { Direct Labor } & .25 \text { hour } & \$ 8.00 \text { per hour } & 2.00 \\\hline && & \underline{\$ 16.40 }\\\hline\end{array}$$ During November,TaskMaster purchased 160,000 pounds of direct materials at a total cost of $304,000.The total factory wages for November were $42,000,90% of which were for direct labor.TaskMaster manufactured 19,000 units of product during November using 142,500 pounds of direct materials and 5,000 direct labor hours.What is the direct materials price variance for November?

• A) $14,250.
• B) $14,400.
• C) $16,000.
• D) $17,100.

Appreciate how firm characteristics and industry groups may predict a firm’s beta.

Describe the process of beta adjustment over time using regression analysis.

Calculate covariances and variances needed in constructing a mean-variance efficient portfolio under different market structures.

Interpret and apply the single-index model to evaluate stock performance and calculate portfolio beta.

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Definitions:

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Neuroscientist

A scientist who studies the nervous system, focusing on understanding the brain's structure, function, development, and pathologies.

Hebb's The Organization

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Psychoanalyst

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