The following information pertains to Benedict Company. Assume that all balance sheet amounts represent average balance figures. 
What is the payout ratio for Benedict?
Definitions:
Labor Efficiency Variance
The difference between the actual hours worked and the standard hours allowed for the work done, multiplied by the standard labor rate, indicating the efficiency of labor used in production.
Work in Process Inventory
The cost of unfinished goods in production, including labor, raw materials, and overhead.
PP&E (Net) Account
Property, Plant, and Equipment (Net) account shows the net book value of a company's fixed assets less accumulated depreciation.
Direct Labor Costs
Expenses associated with employees who are directly involved in the production process, including wages and benefits, forming a major component of product costs.
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