Claire Company Uses a Standard Costing System

question 147

Multiple Choice

Claire Company uses a standard costing system. The following information pertains to direct labor costs for February: What is the total labor budget variance for Claire Company?

• A) $18,000 F
• B) $12,000 F
• C) $18,000 U
• D) $12,000 U

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Definitions:

Hypotheses

Proposed explanations or predictions that can be tested through research and experimentation.

T-statistic

A type of statistic used to estimate the population parameter based on a sample statistic.

Sample Means

The average values obtained from multiple small groups (samples) taken from a larger population, used in statistical analyses.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values.