MULTIPLE CHOICE: 6. The stage of production at which the individual jointproducts are identified is referred to
Question:
MULTIPLE CHOICE:
6. The stage of production at which the individual jointproducts are identified is referred to as the:
A. Split-off point B. Joint point C. Separate identification point D. Relative point
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7. Marie Company produces one product, the M5501 include the useof 25 yards of raw material at a standard price of $ 4.42 peryard. During a recent month, the company used 65,000 yards ofraw material to produce 2,580 units of M5501. Marie had purchasedthis material at a cost of $4.37 per yard. Calculate the materialquantity variance.
A. $2,185 unfavorable B. $2,185 favorable C. $2,210 unfavorable D. $3,225 favorable
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8. Alberta Company’s standards for its Marathon model include 50ounces of borolox at a cost of $6.30 per ounce. During May, thecompany purchased 56,000 ounces of borolox at a total cost of $351,680. The company produced 1,025 Marathons during May and used53,500 ounces of borolox in the process. Calculate the materialprice variance and the material quantity variance.
A. $1,120 favorable and $14,175 unfavorable B. $14630 favorable and $29,925 unfavorable C. $1,070 favorable and $14,175 unfavorable D. $1,120 favorable and $29m925 unfavorable
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Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill