A Product's Standard Cost Card Specifies That a Unit of the Product

question 246

Multiple Choice

A product's standard cost card specifies that a unit of the product requires 4 direct labor-hours. During September, 3,350 units were made, which was 150 units less than budgeted. The total budgeted direct labor cost for September was $117,600. The direct labor cost incurred during September was $111,850 and 13,450 direct labor-hours were worked. The labor efficiency variance for the month was:

• A) $420.00 U
• B) $420.00 F
• C) $415.80 U
• D) $415.80 F

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Definitions:

Venture Philanthropy Funding

A combination of financial assistance such as grants with a high level of engagement by the funder.

Financial Assistance

Monetary support provided by governments, organizations, or individuals to help cover expenses, often aimed at fostering growth, development, or relief.

Impact-Investment Fund

A fund invested with the intention to create positive, measurable social and environmental impact alongside a financial return.

Social Venture Capitalist (SVC)

An investor who provides financial capital to start-up companies or small businesses with the intention of generating both social impact and financial returns.