Ortman Corporation Makes a Product with the Following Standard Costs

question 63

Multiple Choice

Ortman Corporation makes a product with the following standard costs: The company reported the following results concerning this product in May. The company applies variable overhead on the basis of direct labor-hours.The direct materials purchases variance is computed when the materials are purchased. The materials price variance for May is:

• A)$1, 264 F
• B)$1, 400 F
• C)$1, 264 U
• D)$1, 400 U

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Definitions:

Outliers

Observations in data that are significantly higher or lower than the other values.

Research Methodology

A systematic approach outlining the steps and techniques used for conducting research.

Distribution Scores

Represents how values in a set of data are spread across different categories or intervals.

Outliers

Observations that are significantly distant from the other observations in a data set, potentially indicating a measurement error or a different population.