Oddo Corporation Makes a Product with the Following Standard Costs

question 118

Multiple Choice

Oddo Corporation makes a product with the following standard costs: The company reported the following results concerning this product in December. 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 quantity variance for December is:

• A)$1, 540 U
• B)$1, 496 F
• C)$1, 540 F
• D)$1, 496 U

Comprehend the process and signs of domestication in plants and animals, distinguishing between wild and domesticated forms.

Grasp the significance of primary inventions and secondary innovations in the development of early technologies like pottery.

Recognize the major cultural adaptations associated with the Paleolithic period and how these contrast with Neolithic developments.

Examine theories related to the origins of food production and the significance of geographical regions like the Fertile Crescent.

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Definitions:

Labor Efficiency Variance

The difference between the budgeted and actual hours worked, multiplied by the standard labor rate, indicating efficiency in labor usage.

Variable Overhead Rate Variance

The difference between the actual variable overhead incurred and the expected (standard) variable overhead rate multiplied by the actual activity level.

June

The sixth month of the year in the Gregorian calendar, often associated with the start of summer in the northern hemisphere.

Materials Price Variance

A measure of the difference between the actual cost of materials and the standard cost, multiplied by the actual quantity of materials used.