Piper Corporation's Standards Call for 1,000 Direct Labor-Hours to Produce

question 443

Multiple Choice

Piper Corporation's standards call for 1,000 direct labor-hours to produce 250 units of product. During October the company worked 1,250 direct labor-hours and produced 300 units. The standard hours allowed for October would be:

• A) 1,250 hours
• B) 1,000 hours
• C) 1,200 hours
• D) 1,300 hours

---

Definitions:

Current Dollars

The value of money expressed in terms of the purchasing power at the time of reporting, not adjusted for inflation.

Discount

A reduction from the usual cost of something, often applied to promote sales or incentivize early payment.

Investment

Committing financial assets with the objective of receiving income or profit in return.

GIC

A Guaranteed Investment Certificate (GIC) is a Canadian investment that offers a guaranteed rate of return over a fixed period.