ToolTime Has a Standard of 2 Hours of Labor Per

question 116

Multiple Choice

ToolTime has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, ToolTime used 3,850 hours of labor at a total cost of $46,970. ToolTime's labor price variance is

• A) $770 U.
• B) $800 U.
• C) $1,030 F.
• D) $1,930 F.

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Definitions:

Whiners

Individuals who frequently complain in a prolonged, often exaggerated manner about problems or situations.

Complainers

Individuals who express dissatisfaction or grievances frequently.

Arbitrary Approach

A method or decision-making process based on individual discretion or judgment rather than fixed standards or rules.

Democratic Vote

A voting method in which individuals express their choice or preference in a matter through a vote, often characterized by equality and fairness.