The Following Data Are Available for Nichols Corporation

question 110

Multiple Choice

The following data are available for Nichols Corporation. Sale of land $300,000
Sale of equipment 150,000
Issuance of ordinary shares 210,000
Purchase of equipment 90,000
Payment of cash dividends 180,000
Net cash provided by investing activities is:

• A) $360,000.
• B) $390,000.
• C) $450,000.
• D) $570,000.

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Definitions:

Labor Price Variance

The difference between the actual cost of direct labor and the standard cost, reflecting the variance in wages paid.

Direct Material Cost

The cost of raw materials and components that are directly used in the production of a product.

Labor Quantity Variance

The difference between the actual hours worked and the standard hours allowed for the work performed, multiplied by the standard hourly wage rate.

Produced

The completed output of goods or services as a result of manufacturing or production processes.