Using the Standard Costs of $5 Per Pound for a 10

question 50

Multiple Choice

Using the standard costs of $5 per pound for a 10 pound bag of chocolate and the following actual cost and usage data,compute the direct materials quantity variance.
$\begin{array}{ll}\text { Direct labor hours used } & 4,950 \text { hours } \\\text { Total cost of direct labor } & \$ 53,460 \\\text { Number of good units produced } & 9,000 \text { units }\end{array}$

• A) $45,000 (F)
• B) $45,000 (U)
• C) $54,000 (F)
• D) $99,000 (F)

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Definitions:

Discriminatory Firings

The act of terminating employees' contracts based on biased, unfair reasons, such as age, gender, race, or religion.

Deadweight Loss

A reduction in economic effectiveness that happens when it's impossible to reach or the equilibrium result is not attained.

Demand Curve

A graph showing the relationship between the price of a good and the amount of that good consumers are willing to buy.

Tax

A binding monetary impost or other form of levy exacted upon a taxpayer by a governmental unit to finance the operation of the government and various public services expenses.