Luma Incorporated has provided the following data concerning one of the products in its standard cost system. Inputs Standard Quantity or Hours per Unit of Output Standard Price or Rate
Direct materials 4.8 ounces $6.90 per ounce

The company has reported the following actual results for the product for September:

Actual output 2,100 units
Raw materials purchased 10,500 ounces
Actual price of raw materials $7.80 per ounce
Actual cost of raw materials purchased $81,900
Raw materials used in production 10,090 ounces

The raw materials quantity variance for the month is closest to:

The leading producer of cell phone backup batteries, jumpstart, has achieved great success because they produce high-quality battery backups that are not too expensive. even so, another company that produces lower-quality batteries at the same price has also achieved some success, but not as much as jumpstart. also, in general, the price of backup batteries has declined because of economies of scale and learning. in addition, jumpstart has added complementary assets, such as a carrying case. considering all of these factors, the backup battery industry is most likely in the introduction stage. growth stage. shakeout stage. maturity stage.

Jewelry manufacturers produce a range of products such as rings, necklaces, bracelets, and brooches. what fundamental economic question are they addressing by offering this range of items?

The cost of direct labor used in production is recorded as a? a. credit to work-in-process inventory account. b. credit to wages payable. c. credit to manufacturing overhead account. d. credit to wages expense.