Fletcher Company Collected the Following Data Regarding Production of One

question 204

Multiple Choice

Fletcher Company collected the following data regarding production of one of its products. Compute the direct labor rate variance. $\begin{array}{lrl}\text { Direct labor standard (2hrs. @, } \$ 12.75 / \mathrm{hr} .) & \$ 5.50&\text {per finished} \\&&\text {unit}\\\text { Actual direct labor hours } & 81,500 &\text {hrs.} \\\text { Actual finished units produced } & 40,000&\text {units}\\\text { Actual cost of direct labor } & \$ 1,100,250\end{array}$

• A) $80,250 unfavorable.
• B) $80,250 favorable.
• C) $61,125 favorable.
• D) $61,125 unfavorable.
• E) $19,125 unfavorable.

Analyze the legal responsibilities of manufacturers under the Food and Drugs Act for improperly labeled products.

Comprehend the provisions of the Consumer Protection Act regarding unfair business practices and consumer credit.

Evaluate the legal consequences of actions undertaken by collection agencies under provincial legislation.

Discern the legal implications of misleading business practices under both the Business Practices Act and the Federal Competition Act.

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Definitions:

Tax System

The structured framework within which public authorities collect taxes from individuals and companies to fund public expenditures.

Ability-To-Pay Principle

The idea that taxes should be levied on a person according to how well that person can shoulder the burden

Government Services

Various forms of services provided to the public by the government, which can include education, healthcare, security, and infrastructure.

Similar Incomes

The scenario in which two or more entities earn incomes that are close in magnitude.