Montana Company Uses a Standard Costing System What Is the Total Labor Budget Variance for Montana Company

question 42

Multiple Choice

Montana Company uses a standard costing system. The following information pertains to direct labor costs for the month of February: $$\begin{array} { l l } \text { Standard direct labor rate per hour } & \$ 15.00 \\\text { Actual direct labor rate per hour } & \$ 13.50 \\\text { Labor rate variance } & \$ 18,000 \text { favorable } \\\text { Actual output } & 1,000 \text { units } \\\text { Standard hours all owed for actual production } & 10,000 \text { hours }\end{array}$$ What is the total labor budget variance for Montana Company?

• A)$18,000 (F)
• B)$12,000 (U)
• C)$18,000 (U)
• D)$12,000 (F)

Describe common dream themes and their interpretations.

Understand disorders related to sleep, their symptoms, and advice for management.

Analyze the psychological significance of dreaming and hypnosis.

Recognize how cultural differences influence the content and interpretation of dreams.

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Definitions:

F Value

A statistic used in analysis of variance (ANOVA) to determine if the means of three or more variables differ significantly.

Omnibus

An overarching term used to describe a single document or collection containing multiple individual items, often used in legal or legislative contexts.

ANOVA

Short for Analysis of Variance, a statistical method used to compare the means of three or more samples to understand if at least one of the sample means significantly differs from the others.

Level of Significance

The threshold below which a result is considered statistically significant, often denoted by alpha (α), commonly set at 0.05 or 5%.