Given the Following Information in Standard Costing What Is the Direct Labor Rate Variance?
A) $3,160 Favorable

question 1

Multiple Choice

Given the following information in standard costing:
$$\begin{array} { | l | l | } \hline \text { Standard } & 16,000 \text { hours at } \$ 4.00 \\\hline \text { Actual } & 15,800 \text { hours at } \$ 4.20 \\\hline\end{array}$$
What is the direct labor rate variance?

• A) $3,160 favorable.
• B) $3,160 unfavorable.
• C) $2,360 favorable.
• D) $2,360 unfavorable.

Identify practices for building and maintaining high self-esteem in personal and professional contexts.

Understand how self-esteem affects interpersonal relationships and workplace dynamics.

Recognize the importance of adopting a healthy view of oneself that is independent of external validation and accomplishments.

Understand the process of mentorship and its impact on self-esteem and professional development.

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Definitions:

Work in Process Inventory

Goods that are in the process of being produced but are not yet finished products in manufacturing.

Prime Costs

Prime costs are the direct costs of production, including direct materials and direct labor, but excluding indirect expenses like manufacturing overhead.

Conversion Costs

The costs incurred to convert raw materials into a finished product, including labor and manufacturing overhead expenses.

Overhead Costs

Indirect costs related to the general operation of a business that cannot be directly tied to a specific product or service.