Accounting

The following data relate to direct materials costs for February:

Materials cost per yard: standard, $1.96; actual, $2.03
Standard yards per unit: standard, 4.64 yards; actual, 5.18 yards
Units of production: 9,100

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Calculate the direct materials price variance.

a.$3,299.66 unfavorable

b.$637.00 unfavorable

c.$3,299.66 favorable

d.$2,955.68 favorable

A company’s Work in Process Inventory T-account follows.

The cost of goods manufactured is

a. $193,000. c. $185,000. e. $176,200.

b. $211,800. d. $144,600.

A new product is released in two medium-sized cities. The demands in Month 1 were 37 and 43 units and in Month 2 were 55 and 45 units. Which of the following is correct and most complete?

a. A first order regression forecast for Period 3 is 70 units.

b. One of the residuals is -2 and another one is 5.

c. A first order regression forecast for Period 3 is 60 units.

d. Trend analysis cannot involve regression analysis. e. All of the above are correct except (a).

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