Jacques Company Planned to Use 18,000 Pounds of Material Costing

question 74

Essay

Jacques Company planned to use 18,000 pounds of material costing $2.50 per pound to make 4,000 units of its product. In actually making 4,000 units, the company used 18,800 pounds that cost $2.54 per pound. Calculate the direct materials quantity variance.

---

Definitions:

Linear Regression Equation

The linear regression equation is a mathematical formula used to describe the relationship between a dependent variable and one or more independent variables.

Pearson r

A statistic representing the degree of linear correlation between two variables, ranging from -1 to 1.

Years of Education

The total number of years spent in formal education, from the beginning of primary school to the highest level completed.

Linear Regression Equation

The linear regression equation is a mathematical formula used to predict the value of a dependent variable based on one or more independent variables, following a linear relationship.