Accurate Tax Returns Budgets Two Direct Labor Hours for Every

question 132

Multiple Choice

Accurate Tax Returns budgets two direct labor hours for every tax return that it prepares,at a standard cost of $34 an hour.During the most recent year,540 returns were completed with the labor cost totaling $26,000.The actual labor cost was $48.15 per hour during that period.The actual number of labor hours was 1,000.What is the direct labor cost variance? (Round any intermediate calculations to the nearest cent,and your final answer to the nearest dollar.)

• A) $7,640 F
• B) $34,000 U
• C) $14,150 U
• D) $34,000 F

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Definitions:

Violation-of-Expectation Tasks

Research methods used in cognitive psychology to study understanding or awareness by observing reactions to unexpected outcomes.

A-not-B Tasks

Cognitive tests used to assess the understanding of object permanence in infants, typically involving hiding an object in one location and observing if the infant can find it.

Information Processing System

A system, either computer-based or human, that processes information through stages including input, processing, output, and storage.

Lifespan

The duration of time from an individual's birth to their death.