Claire Company Uses a Standard Costing System

question 212

Multiple Choice

Claire Company uses a standard costing system.The following information pertains to direct labor costs for February:

-
What is the total labor budget variance for Claire Company?

• A) $18,000 F
• B) $12,000 F
• C) $18,000 U
• D) $12,000 U

---

Definitions:

Monopoly

A market structure in which a single seller controls the entire market for a good or service, with no close substitutes.

Monopoly Model

A market structure where a single seller dominates the market, facing no competition, resulting in high prices and restricted output.

Total Revenue

The entire amount of income generated by the sale of goods or services before any expenses are subtracted.

Economic Profit

The financial difference between total inflow and aggregate outflow, covering both specific and unspecific costs.