The Odle Company Makes and Sells a Single Product Called

question 13

Multiple Choice

The Odle Company makes and sells a single product called a Kitt. Odle uses a standard costing system. Each Kitt has a standard cost of 5 pounds of material at $12 per pound and 0.9 direct labor-hours at $15 per hour. There were no inventories of any kind on June 1. During June, the following events occurred:

• Purchased 17,000 pounds of material at a total cost of $190,000.
• Used 15,000 pounds of material to produce 2,400 Kitts.
• Used 1,900 hours of direct labor time at a total cost of $38,000.
-To record the use of direct materials in production,the general ledger would include what kind of entry to the Materials Quantity Variance Account?

• A)$46,000 debit
• B)$60,000 credit
• C)$60,000 debit
• D)$36,000 debit

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Definitions:

Double Helix

Describes the structure of DNA, consisting of two strands that wind around each other like a twisted ladder.

Heterozygous

A genetic condition where an individual has two different alleles of a gene, one from each parent.

Differing Alleles

Describes the variation in alleles (versions of a gene) among individuals, which can result in differences in physical appearance, susceptibility to diseases, and other traits.

Double Helix

The structure of DNA consisting of two strands that wind around each other like a twisted ladder, discovered by Watson and Crick.