A Company Using a Standard Costing System Uses an Actual

question 36

Multiple Choice

A company using a standard costing system uses an actual quantity of 1100 kg of material at an actual cost of $1.20 per kg. The standard quantity allowed was 1000 kg at a standard cost of $1.00 per kg. After the goods are completed and transferred from work in process inventory, what is the cost of direct material that would appear in finished goods inventory?

• A) $1000
• B) $1100
• C) $1200
• D) $1320

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Definitions:

Ethnographic Interviewing

A qualitative research method that involves in-depth interviewing and observation to understand the cultural practices, beliefs, and experiences of individuals or communities.

Probing Questions

Questions designed to elicit more detailed responses and encourage deeper thinking.

Descriptors

Words or phrases used to describe or characterize something, often used in cataloging and information retrieval systems to facilitate search and identification.

Self-disclosure

The act of sharing personal information, thoughts, or feelings with others, which can be a risk in building trust in various types of relationships.