The following graph displays four supply curves (HH, II, JJ, and KK) that intersect at point A. 0 2 4 6 8 10 12 14 16 18 20 20 18 16 14 12 10 8 6 4 2 0 PRICE (Dollars per unit) QUANTITY (Units) A B C D E H H J J K K I I Using the graph, complete the table that follows by indicating whether each statement is true or false. Statement True False Between points A and B, curve II is perfectly inelastic. Curve KK is more elastic between points A and C than curve JJ is between points A and D. Between points A and D, curve JJ is inelastic.

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is: