Reference: 21_05 A Job Was Budgeted to Require Three Hours of Labor

question 33

Multiple Choice

Reference: 21_05
A job was budgeted to require three hours of labor per unit at $8 per hour. The job consisted of 8,000 units and was completed in 22,000 hours at a total labor cost of $198,000.
-What is the total labor cost variance?

• A) $22,000 unfavorable
• B) $16,000 unfavorable
• C) $6,000 unfavorable
• D) $16,000 favorable
• E) $22,000 favorable

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Definitions:

Mixed Branding

A strategy that companies use by marketing the same good or service under several different brand names.

Brand Extension

A marketing strategy where a company uses an existing brand name to launch a new or modified product in a new category.

Co-Branding

A marketing partnership between two or more brands to create a combined offer that leverages the unique strengths of each partner.

Family Branding

A marketing strategy where a company uses one brand name for multiple related products, aiming to leverage brand equity and simplify consumer choice.