Question: Multiple Choice Question ABC Company has set the following standards for one unit of product Direct materials: 0.5 pounds $100 per pound; Direct labor: 1

Multiple Choice Question ABC Company has set the following standards for

Multiple Choice Question ABC Company has set the following standards for one unit of product Direct materials: 0.5 pounds $100 per pound; Direct labor: 1 hour $10.00 per hour. The company produced 35,000 units and had the following actual costs: Direct materials: 18,000 pounds at a total cost of $17,280; Direct labor: 36,000 hours at a total cost of $374,400. Compute the total direct materials variance. O $220 F 0200 O $720 O 52200

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

1. Why would 3P Turbo consider investing in Brazil? What are the advantages and disadvantages to locating its operations in Brazil? 2. What discount rate would you use to discount the cash flows from...

Q:

ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds @ $1.00 per pound; Direct labor: 1 hour @ $10.00 per hour. The company produced 35,000 units and had...

Q:

ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds @ $1.00 per pound; Direct labor: 1 hour @ $10.00 per hour. The company produced 35,000 units and had...

Q:

ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds @ $1.00 per pound; Direct labor: 1 hour @ $10.00 per hour. The company produced 35,000 units and had...

Q:

ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds @ $1.00 per pound; Direct labor: 1 hour @ $10.00 per hour. The company produced 35,000 units and had...

Q:

ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds @ $1.00 per pound: Direct labor: 1 hour @ $10.00 per hour. The company produced 35,000 units and had...

Q:

ABC Company has set the following standards for one unit of product: Direct materials: 0 . 5 pounds @ $ 1 . 0 0 per pound; Direct labor: 1 hour @ $ 1 0 . 0 0 per hour. The company produced 3 5 , 0 0...

Q:

ABC Company has set the following standards for one unit of product. Direct materials: .5 pounds @ $1.00 per pound; Direct labor: 1 hour @ $10.00 per hour. The company produced 35,000 units and had...

Q:

ABC Company has set the following standards for one unit of product: Direct materials: 0 . 5 pounds @ $ 1 . 0 0 per pound; Direct labor: 1 hour @ $ 1 0 . 0 0 per hour. The company produced 3 5 , 0 0...

Q:

ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds o $1.00 per pound; Direct labor: 1 hour @ $10.00 per hour. The company produced 35,000 units and had...

Q:

concom mting - Fundamental Accounting Principles - Wild, Shaw, and Chiappetta, 23. Flexible Budgets and ABC Company has set the following standards for one unit of product: Direct materials: 0.5...

Q:

While many hospitality venues in Dubai currently remain profitable and popular, businesses that have been left fragile after COVID-19 lockdowns will now be seriously concerned by the impact of...

Q:

Summarize Pope Francis message. Then, comment on if you think religion brings people together or causes societal divides.

Q:

Integrate - 3 2 2 4 ( 4 x - 2 ) 5 d x Answer =

Q:

Cookie Monster Inc. is a company that specializes in the development of software that tracks web browsing history of individuals. A sample of browser histories is provided in the files...

Q:

You are a CPA, CA, and work for a large public accounting firm with many offices across the country. As part of your new job as a senior manager in the national office, you have been assigned to do a...

Q:

Following is information from the Fitbit Inc. financial statements. $ thousands Dec. 31, 2018 Dec. 31, 2017 Dec. 31, 2016 Revenue $1,511,983 $1,615,519 $2,169,461 Accounts receivable, net 414,209...

Q:

(1) XYZ Corporation is a calendar-year corporation. Ann and Paul each own 50% of the corporation's stock. Ann's adjusted basis in her XYZ stock is 7,800 and Paul's adjusted basis in his stock is...

Q:

The company estimates that its cost of capital is 14%. Calculate the payback period for Machine A and B (answers must be expressed in years, months and days). 2.1 (5 marks) Calculate the accounting...

Q:

attributes of situational leadership

Q:

What style of conflict resolution would you use as an employee to respond to Jobss statement that Well, it was your job to convince me I was wrong, and you failed!

Q:

The three ego states that affect our behavior and the way we transact with others are parent, child, and adult. In the incident described in the case between Kalanick and Apple CEO Tim Cook, who in...

Q:

Chapter 3 discusses attitudes, self-concept, values, and ethics. More specifically, a managers attitudes, values, and ethics can affect employees job behavior and performance. How will you relate...