The Labor Standard for a Product Was Five Hours at a Wage

question 84

Multiple Choice

The labor standard for a product was five hours at a wage rate of $8 per hour.The firm produced 900 units of the item.Labor costs totaled $35,250 and 4,700 hours of labor were used.An analysis of labor costs would indicate

• A) a $750 favorable labor time variance.
• B) a $1,600 favorable labor time variance.
• C) a $2,350 unfavorable labor rate variance.
• D) a $2,350 favorable labor rate variance.

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Definitions:

Secondary Data Analysis

The process of analyzing data that was collected by someone else for a different purpose.

Ethical Violations

Actions or behaviors that breach established codes of conduct or moral principles, often resulting in professional or legal consequences.

Experiments

are systematic investigations conducted to test hypotheses, involving controlled variables to determine effects and outcomes.

Qualitative Research

A data-collection process that examines and interprets nonnumerical material.