Answer and Explanation:
The classification of the following cost i.e. either product cost or period cost is
1. Period cost as it deals with the operating expense
2 Product cost as it directly linked with the product
3 Product cost as it directly linked with the product
4 Product cost as it directly linked with the product
5 Product cost as it directly linked with the product
6 Product cost as it directly linked with the product
7 Product cost as it directly linked with the product
8 period cost as it does not directly linked with the product
9 Product cost as it directly linked with the product
Informal peacemaking and mediation are characterized on the continuum as having __________ personal control by disputants, whereas arbitration and litigation have ________ personal control by the disputants.
Answer:
high; low.
Explanation:
A conflict can be defined as any form of disagreement that arises between two or more parties due to opposing views, opinions, or incompatibility.
CALM is a 4-step process for addressing and defusing conflict.
These four step process for conflict resolution or defusing conflicts includes;
I. Clarify (C): this involves finding out more information about what caused the conflict.
II. Ask (A): you should ask the opposing party about the issues while being polite.
III. Listen (L): listen attentively to get more information.
IV. Move forward (M): do not dwell on the past issue after they have been resolved.
Mediation can be defined as an alternative dispute resolution (ADR) approach which involves an impartial and neutral third party who is saddled with the responsibility of proposing a solution to conflict between two or more parties.
Basically, a mediator is a professional trained in conflict or dispute resolution through the use of effective negotiation techniques and communication strategies. Thus, a neutral third party such as a mediator or negotiator from outside an organization or group, who will hear a conflict case via a nonbinding process should be availed the opportunity to make peace between two or more disagreeing parties.
Generally, the disputants (disagreeing parties) generally have a low personal control over an arbitration and litigation while during an informal peacemaking and mediation process, there is a high level of personal control by disputants on the continuum.
Sheffield Corp. sold $120000 of goods and accepted the customer's $120000 8%, 1-year note receivable in exchange. Assuming 8% approximates the market rate of return, what would be the debit in this journal entry to record the sale
Answer:
The journal entry to record the sale :
Debit : Note Receivable $120000
Credit : Sales Revenue $120000
Explanation:
The journal entry to record the sale includes a Debit entry of a Note Receivable at the amount owed by the customer since there was no immediate payment of cash and a Credit entry of Sales Revenue to recognize Income earned.
The following information relates to the manufacturing operations of the Abbra Publishing Company for the year: Beginning Ending Raw materials inventory $ 550,000 $ 613,000 The raw materials used in manufacturing during the year totaled $1,033,000. Raw materials purchased during the year amount to
Answer:
$420,000
Explanation:
Given the following information, Beginning ending raw materials inventory $560,000 $613,000
The raw materials used in manufacturing during the year is totaled $1,033,000
We will use the formula below to calculate raw materials purchased during the year
Raw materials purchases
= Direct materials used in production - Ending inventory
= $1,033,000 - $613,000
= $420,000
Analysts expect Placer Corp. to pay shareholders $2.25 per share annually for the next five years. After that, the dividend will be $3.50 annually forever. Given a discount rate of 12%, what is the value of the stock today
Answer:
$24.66
Explanation:
Calculation to determine the value of the stock today
First step is to calculate the PVP
PVP = $3.50 / .12
PVP= $29.17
Second step is to calculate the PV
PV = $29.17 / 1.125
PV= $16.55
Third step is to calculate the PVA
PVA = $2.25 {[1 - (1 / 1.125)] / .12}
PVA= $8.11
Now let calculate the value of the stock today
Using this formula
Price=PV+PVA
Let plug in the formula
Price = $16.55 + 8.11
Price= $24.66
Therefore the value of the stock today is $24.66
Last year "ABC" Company had $121646 of assets, $76058 of sales, $19170 of net income, and an equity multiplier of 1.81369. The new CFO believes the firm has excessive fixed assets and inventory that could be sold, enabling it to reduce its total assets to $99391, Sales, costs and net income would not be affected, and the firm would maintain the equity multiplier at the same level (1.81369). By how much would the reduction in assets will change the ROE value?
Answer:
ABC Company
The reduction in assets will change the ROE value by 6% increase, from 29% to 35%.
Explanation:
a) Data and Calculations:
Equity multiplier = total assets divided by stockholders equity
Last year's figures:
Assets = $121,646
Sales = $76,058
Net income = $19,170
Equity multiplier = 1.81369
Equity = Assets/Equity multiplier
= $67,071 ($121,646/1.81369)
Return on equity = $19,170/$67,071 * 100
= 28.6%
= 29%
New figures:
Assets reduced to $99,391
Sales = $76,058
Net income = $19,170
Equity multiplier = 1.81369
Equity = $54,800 ($99,391/1.81369)
Return on equity = $19,170/$54,800 * 100
= 35%
b) The reduction in assets changes the ROE value from 29% to 35%.
Question 4 A company has a temporary difference due to depreciation. For fiscal year 2012, its Income Tax Expense is $15,000 and its Taxable Income is $100,000. The statutory tax rate is 35% What is the correct journal entry for recording 2012 Income Tax Expense and Income Tax Payable
Answer:
Total income tax expense during the year is $15,000.
Statutory tax = 35% rate ($10,000*35% = $3,500).
Remaining part $11,500 ($15,000 - $3,500) would be the deferred tax liability.
Date Accounts titles & Explanation Debit Credit
Income tax expense $15,000
Deferred tax liabilities $11,500
Income tax payable $3,500
(To record income tax obligations)
If no page number or paragraph number is available when directly quoting from an electronic source, then the heading or section name along with the number of the paragraph within that section should be included.
a. True
b. False
Answer:
a. True
Explanation:
Plagiarism can be defined as the act of representing or using an author's work, ideas, thoughts, language, or expressions without their consent, acknowledgement or authorization.
This ultimately implies that, plagiarism is an illegal act of presenting another author's intellectual work or copyrighted items by using their ideas, thoughts, language or expressions, word for word without authorization or permission from the original author.
The four (4) common types of plagiarism are;
1. Copy and paste: this typically involves copying another author's work word for word and pasting it as yours without proper citation or reference with quotation marks.
2. Improper citation : this involves an author failing to provide an in-text reference or citation of the original author appropriately.
3. Find and replace: this typically involves an author finding some words to change (replace) in the original literary work.
4. Fabrication: this occur when an author makes up unverified or false data to use in his or her literary work.
Attribution can be defined as a process which typically involves the citation (reference) of an original source of information such as a quote, paraphrase or summary, using the author's full name and job title or position as the case may be.
Furthermore, if there is no page number or paragraph number when directly quoting from an electronic source, then one is permitted to use the heading or section name along with the number of the paragraph within that section.
Consider the market for socks. The current price of a pair of plain white socks is $6.00. Two consumers, Jeff and Samir, are willing to pay $7.00 and $8.50, respectively, for a pair of plain white socks. Two sock manufacturers are willing to sell plain white socks for as little as $4.50 and $5.50 per pair. What is the total producer and consumer surplus (i.e., social welfare) in this market
Answer:
consumer surplus = $3.5
producer surplus = $2
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
Jeff's consumer surplus = $7 - $6 = $1
Samir's consumer surplus = $8.50 - $6 = $2.50
total consumer surplus = $1 + $2.50 = $3.50
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
Manufacturer 1's producer surplus = $6 - $4.5 = $1.50
Manufacturer 2's producer surplus = $6 - $5.50 = $0.50
total producer surplus = $1.50 + 0.50 = $2
Which of the following is an example of transparency?
A. The project manager ensures that only the project sponsor and
other key executives know what the primary deadlines are.
O B. The project manager posts all the project information (schedule,
guidelines, etc.) to a location that is accessible by the entire team.
C. The project manager uses team meetings to encourage
employees to get to know one another.
O D. The project manager encourages the team members to think
"outside the box" and challenge the guidelines as much as
possible.
Cause
Answer:
B
Explanation:
The project manager is being transparent in this case by posting project information, scheduling, etc. so that it may be accessible to everyone on the team, not hiding anything or making anything exclusive and excluding specific people
The project manager posts all the project information to a location that is accessible to the entire team is an example of transparency. Thus, option B is correct.
What is transparency?
By providing project details, like food scheduling, online so that everyone on the team can view them, the project manager is acting transparently in this instance by not keeping something a secret or making it exclusive so as to exclude particular team members.
A project team's culture of honest interactions and visibility is characterized by clarity when it comes to project and resource management. From a managerial standpoint, it frequently involves being open and forthcoming with one another regarding the project as the team as a whole.
The manager of the project and team members can quickly discover and express concern about any problems that might impede the project's development thanks to the assignment's status transparency.
Therefore, option B is the correct option.
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Here are the comparattive income statements of Georgia Development Corporation.
December 31, 2017 December 31, 2016
Net sales $600,000 $500,000
Cost of goods sold 414,000 350,000
Gross profit 186,000 150,000
Operating expenses 150,000 120,000
Net income $36,000 $30,000
Required:
Prepare a horizontal analysis of the income statement data for Georgia Development Corporation using 2016 as a base.
Answer:
When using horizontal analysis, figures are compared across different years with the subsequent year differences with the base year figures being a percentage of the base year's figures.
12/31/2017 12/31/2016 Difference Percentage
Net sales $600,000 $500,000 $100,000 20.0%
Cost of goods sold $414,000 $350,000 $64,000 18.3%
Gross profit $186,000 $150,000 $36,000 24.0%
Operating expenses $150,000 $120,000 $30,000 25.0%
Net income $36,000 $30,000 $6,000 20.0%
Net sales percentage = 100,000 / 500,000 = 20%
Cost of goods sold = 64,000 / 350,000 = 18.3%
Gross profit = 36,000 / 150,000 = 24%
Operating expenses = 30,000 / 120,000 = 25%
Net income = 6,000 / 30,000 = 20%
Crestfield leases office space. On January 3, the company incurs $12,000 to improve the leased office space. These improvements are expected to yield benefits for 10 years. Crestfield has 4 years remaining on its lease. What journal entry would be needed to record the expense for the first year related to the improvements
Answer:
Debit Amortization Expense $3,000; credit Accumulated Amortization $3,000.
Explanation:
Based on the information given the appropiate journal entry that would be needed to record the expense for the first year related to the improvements will be
Debit Amortization Expense $3000
Credit Accumulated Amortization-Leasehold Improvements $3000
(Amortization Expense = 12000/4 = $3000)
(To record the expense for the first year)
"The Marlene Doll Co. uses a process costing system. Consider the following data for Dept. A. UNITS: W-1-P Nov. 1: 8,000 units, 100% completed for direct material 75% completed for conversion costs Started in November: 10,000 units Transferred to Dept B: 12,000 units W-1-P Nov. 30: 6,000 units, 100% completed for direct material 50% completed for conversion costs COSTS: W-1-P Nov. 1: Direct Materials $9,600 Conversion 4,800 Costs added in November: Direct Material $15,600 Conversion 14,400 a) Use the WEIGHTED AVERAGE method. Prepare a complete process costing schedule for Dept. A for November. Prepare a set of summarized journal entries for all November transactions affecting work-in-process, Dept A including the transfer to Dept B. Overhead was allocated at 400% of direct labor costs. Show all computations. b) Use the FIFO method. Prepare a complete process costing schedule for Dept. A for November. Show all computations."
Answer:
The Marlene Doll Co.
Weighted-AVerage Method
Cost of production:
COSTS: W-1-P Nov. 1: $9,600 $4,800
Costs added in November: 15,600 14,400
Total costs for the month $25,500 $19,200
Equivalent units of production:
Units Materials Conversion
Transferred to Dept B: 12,000 12,000 12,000
W-1-P Nov. 30: 6,000 6,000 3,000
Equivalent units 18,000 15,000
Cost per equivalent units:
Materials Conversion
Total costs for the month $25,500 $19,200
Equivalent units 18,000 15,000
Cost per equivalent unit $1.42 $1.28
Costs assigned to:
Units Transferred to Dept B: $17,040 $15,360 $32,400
(12,000 *$1.42) (12,000 * $1.28)
W-1-P Nov. 30: 8,520 3,840 12,360
(6,000 *$1.42) (3,000 * $1.28)
Total costs assigned $25,560 $19,200 $44,760
FIFO Method
Equivalent units of production:
Units Materials Conversion
W-1-P Nov. 1: 8,000 0 (0%) 2,000 (25%)
Units started & completed: 10,000 10,000 10,000
W-1-P Nov. 30: 6,000 6,000 3,000
Equivalent units 16,000 15,000
Cost per equivalent units:
Materials Conversion
Total costs for the month $15,600 14,400
Equivalent units 16,000 15,000
Cost per equivalent unit $0.975 $0.96
Costs assigned this month to:
Work-in-Process $0 $1,920 $1,920
(0 *$0.975) (2,000 * $0.96)
Units completed $9,750 $9,600 $19,350
(10,000 *$0.975) (10,000 * $0.96)
W-1-P Nov. 30: 5,850 2,880 8,730
(6,000 *$0.975) (3,000 * $0.96)
Total costs assigned $15,600 $14,400 $30,000
Total costs of:
Units transferred out $19,350 $16,320 $35,670
W-1-P Nov. 30: 5,850 2,880 8,730
Total costs $25,200 $19,200 $44,400
Explanation:
a) Data and Calculations:
Dept. A. UNITS:
Units Materials Conversion
W-1-P Nov. 1: 8,000 100% 75%
Started in November: 10,000
Transferred to Dept B: 12,000 100% 100%
W-1-P Nov. 30: 6,000 100% 50%
During September, the capital expenditure budget indicates a $400000 purchase of equipment. The ending September cash balance from operations is budgeted to be $56000. The company wants to maintain a minimum cash balance of $25000. What is the minimum cash loan that must be planned to be borrowed from the bank during September?
Answer:
the minimum cash loan borrowed is $369,000
Explanation:
The computation of the minimum cash loan borrowed is given below:
= Purchase value of an equipment - cash balance budgeted for september month + minimum cash balance
= $400,000 - $56,000 + $25,000
= $369,000
hence, the minimum cash loan borrowed is $369,000
"VB PERSONAL FINANCE VIRTUAL BUSINESS HIGH SCHOOL powered by Knowledge Mathers Buying a Home Math Quiz QUESTION 8 of 10: Your house is for sale for $210,000. A realtor will charge you a 3% sales commission. If you choose a "sale by owner" option bypassing a realtor, you will pay no commission, but you will have to pay an attorney an average of $950 at your closing. What will you save by choosing the "sale by owner" option? O a) $1,865 O b) $2,150 Oc) $5,350 O d) $9,500 Submit ©2021 Knowledge Matters, Inc.
Answer:
c) $5,350
Explanation:
Calculation to determine What will you save by choosing the "sale by owner"
Using this formula
Amount saved=(Property sales value*Sales Commission)-Average
Let plug in the formula
Amount saved=($210,000*3)-$960
Amount saved=$6,300-$950
Amount saved=$5,350
Therefore What will you save by choosing the "sale by owner" is $5,350
The house is for sale for $210,000. A realtor will charge you a 3% sales commission. If we choose a "sale by owner" option bypassing a realtor, you will pay no commission, but we will have to pay an attorney an average of $950 at your closing. We save by choosing the "sale by owner" $5,350. The correct option is c.
Calculation to determine What will you save by choosing the "sale by owner
Using this formula
Amount saved (Property sales value Sales Commission)-Average
Let plug in the formula
Amount saved ($210,000+3)-$960
Amount saved-$6,300-$950
Amount saved $5,350
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what is human resources management?
Answer:
Human resource management is the strategic approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service.
. If the prices of goods and services were expressed in terms of $20 for a shirt, $100 for a purse, what function of money is being described here?
Answer: unit of account.
Explanation:
Money is anything that's generally accepted by the people and used for making purchases. There are different functions of money such as:
• Means of payment
• Store of value
• Unit of account
• Standard for defered payment
If the prices of goods and services were expressed in terms of $20 for a shirt, $100 for a purse, the function of money that is shown here is the unit of account.
Unit of account simply means the measurement of value. This is something through which goods can be valued.
The anti-lock braking system is a desired feature that can provide automobiles a significant competitive edge. However, it is not used uniformly by every automobile company. Thus, this technology is best grouped under ________ technologies.
Answer: key
Explanation:
Since the anti-lock braking system isn't used uniformly by every automobile company, then this technology is best grouped under key technologies.
The key technologies are the emerging technologies whose development, and practical applications, are still unrealized. Examples are robots, AI etc.
What do you think happens to the price of an object as it goes through a large number of intermediaries?
The relationships between inventory and throughput, and inventory and operating expense are defined as follows: As everyone is slowed down, the gap between the first and last hiker expands. As the gap expands, inventory drops. Operational expense is decreasing every time we hurry up because we are expending additional energy just to catch up. Group of answer choices True False
Answer:
False
Explanation:
Operational expense will instead increase when we hurry up because of the additional energy spent to catch up. The relationship between inventory and throughput is determined by time because throughput is the rate of change in inventory and is a product of Inventory divided by Time. This agrees with the inventory formula that states that throughput multiplied by time is equal to inventory.
This information relates to Sheridan Company for the year 2022.
Retained earnings, January 1, 2022 $91,100
Advertising expense 2,450
Dividends 8,160
Rent expense 14,200
Service revenue 78,880
Utilities expense 3,260
Salaries and wages expense 40,800
Prepare an income statement for the year ending December 31, 2022.
Answer and Explanation:
The preparation of the income statement is presented below:
Service revenue $78,880
Less: expenses
Advertising expense $2,450
Rent expense $14,200
Utilities expense $3,260
Salaries and wages expense $40,800
Net income $18,170
hence, the net income is $18,170
The same is to be considered
As a group, oligopolists would always be better off if they would act collectively... Group of answer choices as if they were each seeking to maximize their own individual profits. in a manner that would prohibit collusive agreements. as a single monopolist. as a single perfectly competitive firm.
Answer:
as a single monopolist
Explanation:
The oligopolist is the market structure where there are less sellers and if any actions are taken by them so it impact the price materially and also have the impact on the competitor
So as per the given situation, it would act as a single monopolist as they would charge high price because there is no competition
Therefore the above represent the answer
affar Tabrizi is the owner of Tabrizi Oriental Rugs located in Toronto, Canada. He shops the world over, handpicks, and orders beautiful, authentic handmade rugs. He has them shipped to Canada, where he sells them through his brick-and-mortar stores and his www.tabrizi website. In terms of the marketing channel, Jaffar is acting as Multiple Choice a consumer. an agent. a wholesaler. a brokerage firm. a middleman.
Answer:
A middleman
Explanation:
A middle man in trade is a person that is willing to make negotiations between people that are not willing to meet themselves. They go the extra mile to purchase goods and make them available to customers that have need of them.
In the given scenario Tabrizi shops the world over, handpicks, and orders beautiful, authentic handmade rugs. He has them shipped to Canada, where he sells them through his brick-and-mortar stores and his www.tabrizi website.
Clients in Canada are not able to travel to far places to purchase rugs so he steps in to this role and obtains rugs for his local clients.
Ned is a head of household with a dependent son, Todd, who is a full-time student. This year Ned made the following expenditures related to Todd's support:
Auto immram;e premiums : 1.700
Room and board at Todd’s school 2,200Health insurance premiums (not through an exchange) 600Travel (to and from school) 350What amount can Ned include in his itemized deductions?a. $1,700 included in Ned's miscellaneous itemized deductions.b. $2,050 included in Ned's miscellaneous itemized deductions.c. $950 included in Ned's miscellaneous itemized deductions.d. $600 included in Ned's medical expenses.e. None of the choices are correct.
Answer: D. $600 included in Ned's medical expenses
Explanation:
The amount that Ned can include in his itemized deductions will be the $600 that's included in Ned's medical expenses.
It should be noted that the medical expenses will be under the itemized deductions. On the other hand, the other options will be under the miscellaneous itemized deductions. Therefore, the correct option is D.
An issue of common stock currently sells for $52 per share, has an expected annual dividend to be paid at the end of the year of $0.90 per share, and has an expected growth rate to infinity of 5% per year. The expected rate of return on this security is:______
Answer: 6.73%
Explanation:
The expected rate of return will be calculated by using the formula:
Po= D1 / ( Ke – g )
Where,
Po = Current Price of the stock = $52
D1 = Expected dividend = $0.90
Ke = Expected rate of Return
g = Expected growth rate = 5% = 0.05
We'll then slot in the values into the equation. Therefore,
52.00 = 0.90 / (Ke – 0.05 )
(Ke – 0.05 ) = 0.90 / 52.00
(Ke – 0.05 ) = 0.01731
Ke = 0.05 + 0.01731
Ke = 0.06731
Ke = 6.73%
Therefore, the expected rate of return on this security is 6.73%.
Rachael is a call service agent who handles, on average, 15 calls during each hour of her shift. If standard productivity is 100 calls in an 8 hour shift, then the number 1.20 indicates.
a. Rachael’s productivity.
b. Rachael’s efficiency.
c. Rachael’s process time.
d. Rachael’s cycle time
Answer:
b. Rachael’s efficiency.
Explanation:
The 1.2 shows that Rachel is highly efficient as compared to the other employees via a factor of 20%. This can be determined by dividing the rachel output from the standard output i.e.
= 15 ÷ 1.25
= 1.2
The rachel should be efficient as she does high input in the same hour
Therefore the option b is correct
Mr. Deli wants to start a small sandwich shop in his neighborhood. He has enormous amounts of cash that he inherited from his Uncle Walt, so there are no problems with financing the costs of the business. (1) What is the best type of business for Mr. Deli to form
Answer:
sole proprietorship
Explanation:
A sole proprietorship is a type of business that is owned by one person
Characteristics
1. it is owned by one person
2. the business has unlimited liability
3. the business has limited access to capital
4. the business usually lacks continuity. this type of business usually ceases to exist when the owner dies
5. the business is usually not separated from the owner
I’m tired of being broke! Help
Answer:
ok its A
Explanation:
GET A SUGAR DADDY BAE
CVS pharmacy collects data from bar-coded products. These data can be evaluated and combined to monitor which CVS products are in demand by customers. CVS uses this method to track pricing data to make sure that CVS pricing is competitive. This is an example of _______.
Answer:
InfoScan.
Explanation:
A UPC is an acronym for universal product code. UPC is typically used for the identification of a specific product and its manufacturer (vendor) through a unique code that is printed on the product.
Basically, a universal product code (UPC) comprises of two (2) main parts;
A machine-readable barcode that contains sets of vertical black lines.
A unique twelve (12) digit number placed beneath or adjacent to the machine-readable barcode.
The first six-digits of the UPC represents the manufacturer and is printed on all of its products while the next five-digits is the product's unique reference number (item number) and the last digit is typically known as a check digit, used for the verification of the authenticity of a UPC.
Generally, the universal product code are usually scanned with a barcode scanner and this makes it easier to identify a product, as well as its price.
In this scenario, CVS pharmacy collects data from bar-coded products, which can be evaluated and combined to monitor its products that are in demand by customers. Also, this method is used to track pricing data to make sure that its pricing remains competitive among rivals. Thus, thiis is an example of InfoScan used for systemically scanning price information on products.
The December 31, 2016 balance sheet of Jensen Company showed Equipment of $76,000 and Accumulated Depreciation of $18,000. On January 1, 2017, the company decided that the equipment hasa remaining useful life of 6 years with a $4,000 salvage value. Compute the depreciable cost of the equipment. Depreciable cost Compute the revised annual depreciation.
Revised annual depreciations
Answer:
A. $54,000
B. $9,000
Explanation:
A. Computation for the depreciable cost of the equipment
Book value, 1/1/17 $58,000
($76,000 – $18,000)
Less salvage value $4,000
Depreciable cost $54,000
($58,000-$4,000)
Therefore the depreciable cost of the equipment is $54,000
B. Computation for the revised annual depreciation
Revised annual depreciation = $54,000÷6 years
Revised annual depreciation = $9,000
Therefore the revised annual depreciation is $9,000
Kramer 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. Kramer Inc.'s total materials variance is Group of answer choices
Answer:
$1,200U
Explanation:
Calculation to determine what the total materials variance is
Using this formula
Total materials variance = [(AQ × AP) - (AQ × SP)]
Where;
AQ represent Actual quantity = 6,000 pounds
AP represent Actual price = $2.20
SP represent Standard price = $2
Let plug in the formula
Total materials variance = [(6,000 × $2.20) - (6,000 × $2)]
Total materials variance = [($13,200) - ($12,000)]
Total materials variance = $1,200U
Therefore the total materials variance is $1,200U