Solve. -Jon Has 1101 Points in His Math Class. He Must

question 40

Multiple Choice

Solve.
-Jon has 1101 points in his math class. He must have 84% of the 1500 points possible by the end of the term to receive credit for the class. What is the minimum number of additional points he must earn by the end of the
Term to receive credit for the class?

• A)159 points
• B)1260 points
• C)925 points
• D)399 points

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Definitions:

Standard Cost System

An accounting method that uses predetermined costs for products and services to help managers control expenses and operations.

Labor Rate Variance

The variance between the real labor expenses and the anticipated (or benchmark) cost.

Labor Efficiency Variance

The gap between the number of hours actually worked and the number of standard hours projected, multiplied by the standard wage rate.

Direct Labor

The expenses associated with salaries for workers directly involved in the creation or production of products.