Use the Following Data to Find the Direct Labor Efficiency

question 131

Multiple Choice

Use the following data to find the direct labor efficiency variance if the company produced 3,500 units during the period.

• A) $6,125 unfavorable.
• B) $7,000 unfavorable.
• C) $7,000 favorable.
• D) $12,250 favorable.
• E) $6,125 favorable.

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Definitions:

Budgets

Financial plans that estimate revenue and expenditures over a specific period, helping organizations plan their finances.

Standard Costs

Predetermined costs for materials, labor, and overhead used for budgeting and assessing performance.

Variable Overhead

Costs that vary with the level of production output, such as utilities and commissions.

Materials Price Variance

The difference between the actual cost of materials and the standard cost, multiplied by the actual quantity of materials used.