Which of the following is true? when companies employ push-down accounting: a) the subsidiary revalues assets and liabilities to their fair values as of the acquisition date. b) a special account called revaluation capital will appear in the consolidated balance sheet. c) all consolidation entries are made on the books of the subsidiary rather than in consolidated worksheets. d) the subsidiary is not substantially wholly owned by the parent.

Turrubiates corporation makes a product that uses a material with the following standards standard quantity 8.0 liters per unit standard price $2.50 per liter standard cost $20.00 per unit the company budgeted for production of 3,800 units in april, but actual production was 3,900 units. the company used 32,000 liters of direct material to produce this output. the company purchased 20,100 liters of the direct material at $2.6 per liter. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for april is: