Alex Company Recently Completed 10,600 Units of Its Single Product

question 12

Multiple Choice

Alex Company recently completed 10,600 units of its single product, consuming 32,000 labour hours that cost the firm $480,000. According to manufacturing specifications, each unit should have required 3 hours of labour time at $15.40 per hour. On the basis of this information, determine Alex's labour rate variance and labour efficiency variance. $\begin{array}{|l|c|l|}\hline & \text { Rate } & {\text { Efficiency }} \\\hline 1 & \$ 12,720 \mathrm{~F} & \$ 3,000 \mathrm{~F} \\\hline 2 & \$ 12.720 \mathrm{~F} & \$ 3,000 \mathrm{U} \\\hline 3 & \$ 12,800 \mathrm{~F} & \$ 3,080 \mathrm{~F} \\\hline 4 & \$ 12,800 \mathrm{~F} & \$ 3,080 \mathrm{U} \\\hline 5 & \$ 12.800 \mathrm{U} & \$ 3,080 \mathrm{U} \\\hline\end{array}$

• A)1
• B)2
• C)3
• D)4
• E)5

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Definitions:

Pluralist Model

The pluralist model is a theory of democracy that emphasizes the role of diverse and competing interest groups in the political process.

Interest Groups

are organized groups of individuals or organizations that seek to influence public policy and decision-making to favor their shared interests or goals, often through lobbying, advocacy, or campaigns.

Gender Gap

The discrepancy in opportunities, status, attitudes, and pay between men and women.

Power Elite

A small group of powerful individuals, often from business, government, and the military, who hold significant power and influence over a society.