Use the Information Below to Answer the Following Questions -Refer to the Table Above

question 11

Multiple Choice

Use the information below to answer the following questions. $$\begin{array} { l c c } & \text { Budget for April } & \text { Actual for April } \\\text { Output } & 40,000 \text { units } & 40,000 \text { units } \\\text { Sales } & \$ 400,000 & \$ 400,000 \\\text { Raw materials } & \$ 80,000 & \$ 88,000 \\\text { Labour } & \$ 200,000 & \$ 180,000 \\\text { Overheads } & 225,000 & 305,000\end{array}$$
-Refer to the table above. The labour variance can best be described as:

• A)an adverse variance resulting from excessive use of labour and/or a rise in the hourly rate of pay.
• B)a favourable variance resulting from the efficient use of labour and/or a reduction in the hourly pay rate.
• C)being caused by an increase in the pay rate for labour.
• D)being caused by more efficient labour.

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Definitions:

Political Engagement

The active participation of individuals in political activities or processes to influence public policy or decision-making.

Public Good

An item or service delivered at no cost to all individuals in a society, facilitated by either public authorities or a charitable organization or person.

Rival in Consumption

A characteristic of a good where its consumption by one person reduces its availability for another person.

Substitutes

Goods or services that can replace each other in use or consumption, where an increase in the price of one leads to an increase in demand for the other.