Figure 9-1 Bender Corporation Produced 100 Units of Product AA. the Total

question 118

Multiple Choice

Figure 9-1
Bender Corporation produced 100 units of Product AA. The total standard and actual costs for materials and direct labor for the 100 units of Product AA are as follows:
Materials: Standard Actual
Standard: 210 pounds at $3.00 per pound $630
Actual: 240 pounds at $2.85 per pound $684
Direct labor:
Standard: 400 hours at $15.00 per hour 6,000
Actual: 368 hours at $16.50 per hour 6,072
-Refer to Figure 9-1. What is the material price variance for Bender Corporation?

• A) $30 (U)
• B) $90 (F)
• C) $36 (U)
• D) $36 (F)

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Definitions:

Equipment Section

Part of a company's balance sheet or financial statements that lists the tangible assets used in operations, like machinery, along with their net book values.

Balance Sheet

A financial statement that provides a snapshot of a company's financial position, showing assets, liabilities, and equity as of a specific date.

Current Liabilities

Short-term financial obligations that are due within one year or within the current business cycle, whichever is longer.

Obligations

Responsibilities or duties to fulfill terms of contracts, loans, and legal agreements.