Turrubiates Corporation makes a product that uses a material with the following standards: Standard quantity 7.9 liters per unit Standard price $ 2.40 per liter Standard cost $ 18.96 per unit The company budgeted for production of 3,700 units in April, but actual production was 3,800 units. The company used 30,700 liters of direct material to produce this output. The company purchased 20,000 liters of the direct material at $2.5 per liter. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for April is:

Choose the best term for each definitionexpense, liability, monetary asset, statement of financial position, tangible asset, net worth, market value, investment asset, income, assetitems of monetary value a person or household ownsmoney spentmoney receivedfinancial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the futurea debt or obligation owed to othersthe amount you could realistically sell an asset forassets that can be quickly and easily converted into casha measure of financial wealth and indicates the monetary value of all possessions that a person or household owns, minus the total amounts owed to othersa financial statement that describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worthpersonal property that was purchased to create a lifestyle or improve your life

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Aaron corporation, which has only one product, has provided the following data concerning its most recent month of operations: selling price $ 102 units in beginning inventory 0 units produced 4,900 units sold 4,260 units in ending inventory 640 variable costs per unit: direct materials $ 20 direct labor $ 41 variable manufacturing overhead $ 5 variable selling and administrative expense $ 4 fixed costs: fixed manufacturing overhead $ 64,200 fixed selling and administrative expense $ 2,900 the total contribution margin for the month under variable costing is: