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.

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Payments made for goods or services to be received in the future, recognized as assets on a balance sheet until they are incurred as expenses.

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