Canevari Corporation Makes a Product That Uses a Material with the Following

question 156

Multiple Choice

Canevari Corporation makes a product that uses a material with the following standards: The company budgeted for production of 1, 300 units in April, but actual production was 1, 200 units.The company used 3, 750 kilos of direct material to produce this output.The company purchased 4, 100 kilos of the direct material at a total cost of $8, 610.The direct materials purchases variance is computed when the materials are purchased. The materials price variance for April is:

• A)$360 F
• B)$410 U
• C)$410 F
• D)$360 U

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Definitions:

Criterion Variable

The variable/score that is predicted based upon an individual’s score on another variable (the predictor variable).

Structural Equation Models (SEM)

A statistical technique that allows for the testing and estimation of complex relationships between observed and latent variables.

Third-Variable Problem

A situation in correlational research where a variable not studied is the true cause of the relationship observed between the variables of interest.

Variance

A measure of the variability of scores about a mean; the mean of the sum of squared deviations of scores from the group mean.