Chapter 1, Problem 11.4EC

The actual cost of direct materials is $37.60 per kilogram, while the standard cost per kilogram is $39.80. During the current period, 3,500 kilograms were used in production. What is the direct materials price variance?

General accounting question

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What is the amount of ending finished goods inventory?

Accounting question answer

Conrad operates a dairy farm. His total costs are $480,000 per year, and his fixed costs are $180,000 per year. This means that his variable costs are: A. $300,000 B. $480,000 C. $660,000 D. $180,000 E. $120,000

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Solve this MCQ

Cascade Corporation had total assets of $650,000 and total liabilities of $380,000 at the beginning of the year. During the year, total assets increased by $95,000, and stockholders' equity decreased by $40,000. What is the amount of total liabilities at the end of the year?