The Apoundright Company Uses Standard Costing and Has Established the Following

question 16

Multiple Choice

The Apoundright Company uses standard costing and has established the following standards for its single product:
Direct materials: 2 gallons at $3 per gallon
Direct labor: 0.5 hours at $8 per hour
Variable overhead: 0.5 hours at $2 per hour
During November, the company made 4,000 units and incurred the following costs:
Direct materials purchased: 8,100 gallons at $3.10 per gallon
Direct materials used: 7,600 gallons
Direct labor used: 2,200 hours at $8.25 per hour
Actual variable overhead: $4,175
The company applies variable overhead to products on the basis of standard direct labor-hours.
-The materials quantity variance for November was:

• A) $1,200 U
• B) $1,200 F
• C) $300 U
• D) $1,500 F

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