Widman, Inc

question 29

Multiple Choice

Widman, Inc. makes and sells only one product and uses standard costing. The standard cost sheet for one unit of product includes the following:

• Direct materials: 5 grams at $0.35 per gram
• Direct labor: 1 hour at $8 per hour

Last period the company had the following results:

• 5,000 grams of direct materials purchased at $0.40 per gram
• 4,000 grams of direct materials used in production
• 900 units of product were made
• 850 hours of direct labor were used at $8.50 per hour

-The journal entry to record the purchase of direct materials last period would include:

• A)Raw materials $2,000, Debit; materials price variance $250, Credit
• B)Raw materials $1,750, Debit; materials price variance $250, Credit
• C)Raw materials $2,000, Debit; materials price variance $250, Debit
• D)Raw materials $1,750, Debit; materials price variance $250, Debit

Understand the reasons for and implications of moving towards flatter organizational structures.

Grasp the concept of departmentalization and its effects on coordination and conflict within organizations.

Understand the historical origins and philosophical foundation of the 12-Step philosophy.

Identify the key concepts and thematic sections within the 12 Steps as identified by scholarly research.

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Definitions:

Positive Norms

Standards or expectations within a group that promote positive behaviors and interactions, contributing to a constructive and supportive environment.

Role Model

An individual who serves as an example to others by demonstrating desirable behaviors and attitudes, often inspiring others to emulate them.

Rewarding

Providing benefits, recognition, or compensation as an acknowledgment of effort, achievement, or desirable behavior.

Maintenance Activities

Support the emotional life of the team as an ongoing social system.