The Following Data Relate to Direct Labor Costs for August

question 17

Multiple Choice

The following data relate to direct labor costs for August: Actual costs: 5,500 hours at $24.00 per hour.Standard costs: 5,000 hours at $23.70 per hour. What is the direct labor time variance?

• A)$1,650 favorable
• B)$1,650 unfavorable
• C)$1,500 favorable
• D)$1,500 unfavorable

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Definitions:

Lottery Ticket

A piece of paper or a digital token that allows the holder a chance to win a prize in a drawing of lots.

Inter Vivos Gift

A gift given by a living person during their lifetime, as opposed to a bequest or legacy left in a will, which does not take effect until after the donor's death.

Constructively Presented

A concept where something is deemed to be presented or made available through implication or through the circumstances, rather than by direct presentation.

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The intention to give a gift expressed by a donor, a key requirement in the law of gifts to demonstrate that a transfer is indeed intended as a gift.