Figure 10-3

question 47

Multiple Choice

Figure 10-3. Bortello Corporation produces high-quality leather boots.The company has a standard cost system and has set the following standards for materials and labor:
During the year Bortello produced 125 boots.Actual leather purchased was 1,700 strips,at $16 per strip.There were no beginning or ending inventories of leather.Actual direct labor was 1,500 hours at $15 per hour.
Refer to Figure 10-3.Calculate the labor rate variance and the labor efficiency variance,respectively.

• A)$4,500 U and $3,000 U
• B)$4,500 F and $3,000 F
• C)$4,500 U and $3,000 F
• D)$4,500 F and $3,000 U

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Definitions:

Reparations

Acts of compensation offered to victims in an effort to restore what has been lost. An aspect of the restorative justice model.

Retaliation

The act of returning an injury or wrong suffered at the hands of another, often seen in contexts of workplace discrimination or harassment.

Shared Culture

The common beliefs, practices, norms, and values among a group of people that guide behavior and foster a sense of community.

Appearance

The way that someone or something looks, which can include aspects of dress, grooming, physical characteristics, and overall presentation.