Edgar, Inc. has a materials price standard of $2.00 per pound. Six thousand poun

Question

Edgar, Inc. has a materials price standard of $2.00 per pound. Six thousand pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 6,000 pounds, although the standard quantity allowed for the output was 5,400 pounds.  
Edgar, Inc.'s materials quantity variance is

A) $1,200 U. B) $1,200 F. C) $1,320 F. D) $1,320 U.

The following information is available for a potential investment for Panda Company: Initial investment $95,000 Net annual cash inflow 20,000 Net present value 36,224 Salvage value 10,000 Useful life 10 yrs. The potential investment's profitability index is

A) 4.75. B) 3.22. C) 2.62. D) 1.38.

Explanation / Answer

C) $1,320

A) 4.75.

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