Oddo Corporation Makes a Product with the Following Standard Costs

question 42

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 price variance for December is:

• A)$2,520 U
• B)$2,520 F
• C)$2,900 F
• D)$2,900 U

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Definitions:

Federal Government

The national government of a federation, which holds authority over the entire territory, distinguishing it from state or local governments.

Ronald Reagan

The 40th President of the United States (1981–1989), known for his conservative policies, economic reforms, and role in ending the Cold War.

Market Forces

The economic factors affecting the supply and demand for goods and services in the market, including competition, consumer preferences, and regulatory policies.

Reduce Poverty

The goal or process of decreasing the number of individuals or families living below the poverty line through various economic, educational, and policy measures.