The Check Register of Clover Co

question 53

Short Answer

The check register of Clover Co. indicated a cash balance of $1,580.12 January 1. During the month Clover Co. made deposits of $980.75 and $2,120.85. During the same month Clover Co. wrote checks for $140.50, $1,469.29, $690.17, $51.90, and $789.12. What balance should the register show for cash January 31?​

---

Definitions:

Direct Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standard quantity expected, multiplied by the standard cost per unit.

Standard Quantity

The predetermined amount of materials or inputs planned to be used in a manufacturing process or task.

Standard Price

A predetermined cost that companies assign to goods and services, used as a benchmark to measure the actual cost performance.

Standard Cost

A predetermined cost of manufacturing a product or providing a service, used for budgeting and performance evaluation.