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

question 160

Multiple Choice

Use the information below to answer the following question(s) .Sawyer Industries Inc.(SII) , developed standard costs for direct material and direct labour.In 2019, SII estimated the following standard costs for one of their major products, the 30-litre heavy-duty plastic container. During July 2020, SII produced and sold 10,000 containers using 2,200 kilograms of direct materials at an average actual cost per kilogram of $24 and 1,050 direct manufacturing labour hours at an average actual wage of $14.75 per hour.
-July's direct manufacturing labour rate variance is

• A)$250.00 favourable.
• B)$262.50 favourable.
• C)$487.50 favourable.
• D)$262.50 unfavourable.
• E)$250.00 unfavourable.

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Definitions:

Investment

The act of committing money or capital to an endeavor with the expectation of obtaining an additional income or profit.

Compound Interest

Interest calculated on a loan or deposit, taking into account the original principal as well as the interest that has accumulated in past periods.

Initial Deposit

The first payment made as part of a larger sum, often required to secure a purchase or open a financial account.

Transactions Costs

The expenses beyond the price of the product that buyers and sellers incur when making a transaction, such as fees, taxes, or other expenses.