Chhom Corporation Makes a Product Whose Direct Labor Standards Are

question 85

Multiple Choice

Chhom Corporation makes a product whose direct labor standards are 0.4 hours per unit and $19.00 per hour. In November the company produced 1,800 units using 760 direct labor-hours. The actual direct labor cost was $13,300. The labor efficiency variance for November is:

• A) $700 F
• B) $760 F
• C) $760 U
• D) $700 U

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Definitions:

National Debt

The total amount of money that a country's government has borrowed and not yet repaid, often through the issuance of securities.

Inflationary Gap

The difference between the actual output of an economy and the output it could achieve with full employment, leading to inflation when demand outstrips supply.

GDP

The total economic value of all end goods and services made within a nation's borders during a specific period is known as Gross Domestic Product.

Inflationary Gap

A situation where the demand for goods and services exceeds the supply, leading to inflation and an overheating economy.