Hardigree Corporation Makes a Product That Has the Following Direct

question 84

Multiple Choice

Hardigree Corporation makes a product that has the following direct labor standards:
In May the company's budgeted production was 8,900 units, but the actual production was 8,800 units. The company used 2,820 direct labor-hours to produce this output. The actual direct labor cost was $70,218.
-The labor efficiency variance for May is:

• A) $4,482 U
• B) $4,482 F
• C) $4,140 U
• D) $4,140 F

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Definitions:

Normal Good

A good for which demand increases as consumer income rises, holding everything else constant.

Utility Function

A mathematical representation used in economics to show how different bundles of goods or services contribute to an individual's overall satisfaction or happiness.

Apples

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Bananas

A tropical fruit characterized by its elongated shape, yellow skin when ripe, and soft, sweet flesh.