Lab CorpUses a Standard Cost System What Were the Actual Hours Worked?
A) 1,400 Hours

question 207

Multiple Choice

Lab Corp.uses a standard cost system.Direct labour information for Product CER for the month of October follows: $\begin{array} { l r } \text { Standard direct labour rate } & \$ 6.00 \text { per hour } \\\text { Actual direct labour rate paid } & \$ 6.10 \text { per hour } \\\text { Standard hours allowed for actual production } & 1,500 \text { hours } \\\text { Labour efficiency variance-unfavourable } & \$ 600\end{array}$ What were the actual hours worked?

• A) 1,400 hours.
• B) 1,402 hours.
• C) 1,598 hours.
• D) 1,600 hours.

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Grantee

A person or entity to whom property rights or interests are transferred by a grantor.

Deed of Trust

A document used in real estate that secures a loan by transferring the legal title of a property to a trustee until the loan is paid off.

Warranty Deed

A document in real estate transactions that guarantees a property is free from liens or claims and assures the buyer of clear title.

Security Interest

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