Shawn IncPlanned to Produce 3,000 Units of Its Single Product,Megatron,during November

question 33

Multiple Choice

Shawn Inc.planned to produce 3,000 units of its single product,Megatron,during November.The standard specifications for one unit of Megatron include six pounds of material at $0.30 per pound.Actual production in November was 3,100 units of Megatron.The accountant computed a favorable materials purchase price variance of $380 and an unfavorable materials quantity variance of $120.Based on these variances,one could conclude that: (CMA adapted)

• A) more materials were purchased than were used.
• B) more materials were used than were purchased.
• C) the actual cost of materials was less than the standard cost.
• D) the actual usage of materials was less than the standard alloweD.
• See calculation below.

Differentiate between disciplinary actions and child abuse, recognizing the legal and ethical boundaries.

Understand the basic arguments for and against protectionism in international trade.

Comprehend the role and functions of the World Trade Organization (WTO).

Recognize the impact of trade policies such as tariffs and quotas on domestic markets and the global economy.

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Definitions:

Schizophrenic Symptoms

Manifestations of schizophrenia, including delusions, hallucinations, disorganized speech, and impaired social or occupational functioning.

Clang Association

A psychotic speech pattern where words are chosen based on sound rather than meaning, often seen in bipolar disorder and schizophrenia.

Delusion

A strongly held belief despite clear evidence against it, often indicative of a psychological disorder when severe and persistently held.

Hallucination

A sensory experience of something that does not exist outside the mind, often seen, heard, or felt by a person.