Longview Hospital Performs Blood Tests in Its Laboratory

question 4

Multiple Choice

Longview Hospital performs blood tests in its laboratory.The following standards have been set for each blood test performed: During May, the laboratory performed 1, 500 blood tests.On May 1 there were no direct materials (plates) on hand;after a plate is used for a blood test it is discarded.Variable overhead is assigned to blood tests on the basis of standard direct labor-hours.The following events occurred during May: • 3, 600 plates were purchased for $9, 540
• 3, 200 plates were used for blood tests
• 340 actual direct labor-hours were worked at a cost of $5, 550
The direct materials purchases variance is computed when the materials are purchased.
The materials quantity variance for May is:

• A)$1, 650 F
• B)$1, 650 U
• C)$550 U
• D)$720 F

Understand the process and importance of selecting a project manager based on the project's needs.

Comprehend the significance of project goals and their measurable outcomes.

Learn the procedures for identifying project stakeholders and their viewpoints.

Grasp the necessity and structure of project documentation and controls.

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Definitions:

Production Possibilities Schedule

A table that shows the different combinations of two goods that can be produced with fixed resources and technology.

Tanks

Armored combat vehicles with heavy firepower and strong defensive capabilities, primarily used by military forces in ground warfare.

Opportunity Cost

The cost of foregone alternatives, or what is given up in order to pursue a certain action or decision.

Budget

An estimate of income and expenditure for a set period, often used by governments, businesses, and individuals to plan financial operations.