Use the Information Below to Answer the Following Question(s)

question 61

Multiple Choice

Use the information below to answer the following question(s) .Tractor Corporation produces toy tractors.The company uses the following direct cost categories:
Actual performance for the company is shown below:
Actual output: 5,000 units
Direct Materials:
Direct Manufacturing Labour:
Direct Marketing Labour:

-What are the efficiency variances for direct manufacturing labour and direct marketing labour, respectively?

• A)$25,000 favourable; $18,400 favourable
• B)$23,750 favourable; $12,650 unfavourable
• C)$25,000 unfavourable; $18,400 unfavourable
• D)$23,750 unfavourable; $12,650 unfavourable
• E)$23,750 favourable; $12,650 favourable

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Definitions:

Population Size

The total number of individuals or units in the group or set being studied.

Sample Size

This term refers to the number of observations or replicates used in a statistical analysis.

Central Limit Theorem

A statistical theory stating that the distribution of sample means approximates a normal distribution as the sample size becomes large, regardless of the population's distribution.

Sampling Distribution

The probability distribution of a given statistic based on a random sample, essential in estimating the sampling variability.