Lucky Company's Direct Labor Information for the Month of February

question 47

Multiple Choice

Lucky Company's direct labor information for the month of February is as follows: $\begin{array}{lr}\text { Actual direct labor hours worked (AQ) } & 61,500 \\\text { Standard direct labor hours allowed (SQ) } & 63,000 \\\text { Total payroll for direct labor } & \$ 774,900 \\\text { Direct labor efficiency variance } & \$ 18,000\end{array}$ The direct labor rate variance for February (rounded to the nearest dollar) was:

• A) $36,900 unfavorable.
• B) $37,800 unfavorable.
• C) $55,350 unfavorable.
• D) $56,700 unfavorable.
• E) $73,800 unfavorable.

Comprehend the requirements and effects of firm offers and contracts within the UCC.

Analyze the role of documents of title in transferring title and risk of loss.

Identify the characteristics of goods and the implications for contracts involving future goods or uniquely manufactured items.

Understand the legal differences between sales and bailments.

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Definitions:

Possession Utility

The value or usefulness that comes from a consumer being able to possess a product, enabling its use when and where the consumer wishes.

Ownership Utility

The added value or satisfaction a consumer obtains from owning a product and being able to use it as desired.

Form Utility

The value added to products through the process of transformation, creating a more desirable product for consumers.

Place Utility

The value added to products by having them available at a location where they are needed or wanted.