Minmax Co'S Direct Labor Information for February Is as Follows

question 153

Multiple Choice

Minmax Co.'s direct labor information for February is as follows: $\begin{array}{lr}\text { Direct labor hours worked (AQ) } & 33,600 \\\text { Standard direct labor hours for units manufactured (SQ) } & 35,000 \\\text { Unfavorable direct labor rate variance } & \$ 11,760 \\\text { Total payroll for direct labor } & \$ 470,400\end{array}$ The standard direct labor rate per hour (SP) (to two decimal places) for February was:

• A) $13.44.
• B) $13.65.
• C) $13.78.
• D) $14.00.
• E) $14.35.

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Definitions:

Intrinsic Value

The inherent, objective value of an asset, investment, or company based on its fundamentals, without regard to market value.

Time Value

The concept that money available now is worth more than the same amount in the future due to its potential earning capacity, reflecting the opportunity cost of waiting.

Stock Price

The current price at which shares of a particular company can be bought or sold on a stock exchange.

Dividend Yield

A financial metric indicating the annual dividend payment of a company as a proportion of its stock price.