The Following Data Relate to Direct Labor Costs for August:Actual

question 16

Multiple Choice

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

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

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Definitions:

Probability Distribution

A mathematical function that provides the probabilities of occurrence of different possible outcomes for an experiment.

Chi-Square Goodness-of-Fit Test

This statistical test evaluates if there is a significant difference between observed frequencies and expected frequencies in one or more categories.

Two-Tail Test

another way of conducting hypothesis testing that checks for the possibility of both positive and negative differences.

Population Density

A measurement of population per unit area or unit volume.