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79. A company developed the following per unit materials standards for its product: 3 pounds...

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Accounting

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79. A company developed the following per unit materials standards for its product: 3 pounds of direct materials at $4 per pound. If 12,000 units of product were produced last month and 37,500 pounds of direct materials were used, the direct materials quantity variance was A) $6,000 favorable. B) $3,600 favorable. C) S6,000 unfavorable. D) $3,600 unfavorable. 80. A standard cost is A) a predetermined cost. B) a cost which is paid for a group of similar products. C) the historical cost of producing a product last year. D) the average cost in an industry. Use the following to answer questions 81-84: For each of the following transactions, indicate where, if at all, it would be classified on the statement of cash flows. Assume the indirect method is used. 81. Issued common stock for cash. A) Does not represent a cash flow B) Financing activities section C) Operating activities section D) Investing activities section 82. Paid income taxes. A) Operating activities section B) Financing activities section C) Investing activities section D) Does not represent a cash flow 83. Purchased land and building with a mortgage. A) Investing activities section B) Does not represent a cash flow C) Operating activities section D) Financing activities

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