Malkovich Company Uses a Standard Costing System

question 57

Multiple Choice

Malkovich Company uses a standard costing system. The following information pertains to direct materials for the month of July: Standard price per lb. $18.00
Actual purchase price per lb. $16.50
Quantity purchased 3,100 lbs.
Quantity used 2,950 lbs.
Standard quantity allowed for actual output 3,000 lbs.
Actual output 1,000 units
Malkovich Company reports its material price variances at the time of purchase. What is the standard quantity of direct materials per unit for Malkovich Company?

• A) 3.50 lbs.
• B) 3.00 lbs.
• C) 3.10 lbs.
• D) 3.25 lbs.

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Definitions:

Maslow

Refers to Abraham Maslow, a psychologist known for creating Maslow's hierarchy of needs, which prioritizes human needs from basic (physiological) to advanced (self-actualization).

Workplace

A location or environment where people are employed and perform tasks related to their occupations.

Ready To Be Motivated

A state of willingness and openness to be inspired or energized towards taking action or pursuing goals.

Taylor

Refers to Frederick W. Taylor, known for his work in developing the principles of scientific management to improve industrial efficiency.