Hancock Corporation makes a product that uses a material with the quantity standard of 7.3 grams per unit of output and the price standard of $6.00 per gram. In January the company produced 3,400 units using 24,870 grams of the direct material. During the month Hancock purchased 27,400 grams of the direct material at $6.10 per gram. The direct materials purchases variance is computed when the materials are purchased.The materials quantity variance for January is:

The amount of direct material that should have been used to complete the company’s actual output is the ________________.

Recycle and Renew Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbished. Recycle and Renew has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for May.   Fixed Element per Month Variable Element per Container Refurbished Actual Total for May Revenue   $3,800 $123,400 Employee salaries and wages $40,000 $1,100 $ 73,800 Refurbishing materials   $ 700 $ 21,800 Other expenses $29,700   $ 28,800 When the company prepared its planning budget at the beginning of May, it assumed that 37 containers would have been refurbished. However, 32 containers were actually refurbished during May. The revenue variance in the Revenue and Spending Variances column of a report comparing actual results to the flexible budget for May would have been closest to:

Swim-On-In is a seafood restaurant located on the beach. Flexible budget wages and salaries for the month were  $10,400. Actual wages and salaries were $10,130.  During the month 1,800 meals were planned, but only 1,700 meals were actually served. The spending variance for wages and salaries would be closest to:

A flexible budget performance report contains activity variances ONLY. Revenue and spending variances are not included.

McArthur Boat Wash’s cost formula for its cleaning equipment and supplies is $2,570 per month plus $48 per boat. For the month of March, McArthur planned for activity of 62 boats, but the actual level of activity was 17 boats. The actual cleaning equipment and supplies for the month was $3,580.The activity variance for cleaning equipment and supplies in March would be closest to:

A verdict of not guilty means:

Insanity can be a defense to a criminal charge.

Alan, the president of Beta Investments, Inc., and Colin, Beta’s accountant, are charged with a crime, after the police search Beta’s Offices. Under the exclusionary rule

Under the doctrine of comparative negligence, both the plaintiff’s and the defendant’s negligence are taken into consideration.