Oddo Corporation Makes a Product with the Following Standard Costs

question 67

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:

Sociocultural Standards

Norms and expectations established by society or culture regarding behavior, appearance, and values.

Biological Ties

Connections between individuals based on genetic relationships, such as those between parents and their biological children.

Broaden-And-Build Model

A theory in positive psychology suggesting that positive emotions broaden one's awareness and encourage novel, varied, and exploratory thoughts and actions.

Drive Reduction Theory

A psychological theory that posits that motivation is rooted in the biological need to reduce internal drives, such as hunger or thirst, returning the organism to a state of homeostasis.