The Clamen Company Makes Table Lamps, for Which the Following

question 15

Multiple Choice

The Clamen Company makes table lamps, for which the following standards have been developed:
During October, production of 100 lamps was expected, but 110 lamps were actually completed.
Direct materials purchased and used were 2,100 pounds at an actual price of $2.20 per pound.
Direct labour cost for the month was $5,310, and the actual pay per hour was $9.00.
-The direct-labour price variance for the month of October is

• A) $600 unfavourable.
• B) $600 favourable.
• C) $590 unfavourable.
• D) $590 favourable.

Understand the factors influencing population growth and decline.

Recognize the characteristics of population age structure diagrams.

Understand the concept and implications of demographic transition.

Differentiate between developed and developing countries based on demographic indicators.

---

Definitions:

Accrue Employee Salaries

The process of recognizing the cost of salaries earned by employees but not yet paid to them.

Salaries Expense

An income statement item representing the total amount paid to employees in the form of salaries and wages during an accounting period.

Salaries Payable

A liability account that records the amount of salaries owed to employees but not yet paid.

Accrued Expenses

Expenses that have been incurred but not yet paid, recognized in the accounting period they are incurred, not when they are paid.