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Marv Company's Direct Labor Costs for Manufacturing Its Only Product

question 99

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Marv Company's direct labor costs for manufacturing its only product were as follows for October:  Standard direct labor hours (DLHs)  per unit of product 2 Budgeted finished units for the period 6,000 Actual number of finished units produced 5,000 Standard wage rate per direct labor hour (SP)  $20.00 Direct labor costs incurred $207,000 Actual wage rate per direct labor hour (AP)  $18.00\begin{array}{lrr}\text { Standard direct labor hours (DLHs) per unit of product } & 2 \\\text { Budgeted finished units for the period } & 6,000 \\\text { Actual number of finished units produced } & 5,000 \\\text { Standard wage rate per direct labor hour (SP) } & \$ 20.00 \\\text { Direct labor costs incurred } & \$ 207,000 \\\text { Actual wage rate per direct labor hour (AP) } & \$ 18.00\end{array} The direct labor efficiency variance for October, rounded to the nearest dollar, was:


Definitions:

Non-Cumulative

Refers to dividends or other types of distributions that, if not paid by a company in a given period, are not required to be paid at all.

Dividend Yield

The ratio that indicates how much dividends a company issues each year in relation to the price of its shares.

Par Value

Par value is the nominal or face value of a bond, share, or other financial instrument, set at the time of issue.

Dividend Growth Model

A method for valuing a stock by using predicted dividends and discounting them back to their present value.

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