Efficient Corporation Uses a Standard Cost System ? the Direct Labor Time Variance Is:
A) $31,725 Favorable

question 89

Multiple Choice

Efficient Corporation uses a standard cost system.The following information was provided for the period that just ended: $\begin{array}{ll}\text { Actual price per gallon } & \$ 11.75 \\\text { Actual gallons of material used } & 5,000 \\\text { Actual hourly labor rate } & \$ 17.00 \\\text { Actual hours of production } & 24,300 \\\text { Standard price per gallon } & \$ 12.00 \\\text { Standard gallons per completed unit } & 1 / 2 \\\text { Standard hourly labor rate } & \$ 12.00 \\\text { Standard time per completed unit } & 3 \text { hrs. } \\\text { Units completed during the period } & 9,000\end{array}$ ? The direct labor time variance is:

• A) $31,725 favorable.
• B) $32,400 favorable.
• C) $89,100 unfavorable.
• D) $121,500 unfavorable.

Apply economic theory to real-world scenarios, particularly in understanding market reactions.

Comprehend the relationship between price changes and consumer behavior.

Distinguish between demand and quantity demanded.

Understand the difference between a decrease in quantity demanded and a decrease in demand.

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Definitions:

Media Outlets

Organizations that distribute news, entertainment, or other information to the public via television, radio, internet, newspapers, or magazines.

Informational Appeal

An advertising and marketing strategy that uses factual and informative messages to influence the target audience.

Emotional Appeal

A marketing strategy designed to evoke emotional responses from consumers, aiming to create a personal connection with the product or brand.

Franchised Pizza Restaurant

A pizza restaurant operating under a franchise agreement, using the branding, business model, and menu of the franchisor.