Following Is the Information About Standard Inc Variable Cost @ $2 Per Hour
Total Variable Cost, $18,000

question 157

Multiple Choice

Following is the information about Standard Inc. The standard costs and actual costs for direct materials, direct labor, and factory overhead for the manufacture of 2,500 units of product are as follows:
$\begin{array}{lrr} \text { Standard Costs } &\\ \text {2,500 kilograms@\$8 } & \text {Direct material}\\ \text { 7,500 hours @\$12 } & \text { Direct labor}\\\\ \text { Actual Costs } &\\ \text { 2,600 kilograms@\$8.75 } & \text {Direct material }\\ \text { 7,400 hours @ \( \$ 11.40 \) } & \text {Direct labor}\\\\ \text { Factory overhead (100\% capacity } &\\ \text { \( 10,000 \mathrm{hrs}) : \) } &\\\end{array}$
Variable cost @ $2 per hour
Total variable cost, $18,000
Fixed cost @ $0.80 per hour
Total fixed cost, $8,000
Refer to the information provided for Standard Inc. The amount of the direct materials quantity variance is:

• A) $875 favorable.
• B) $875 unfavorable.
• C) $800 favorable.
• D) $800 unfavorable.

Understand the concept of consistency and inconsistency between statements.

Recognize the implications of a statement's consistency or inconsistency on its truth table.

Demonstrate the ability to symbolically represent logical statements.

Distinguish between different types of logical connectives (e.g., conjunction, disjunction, conditional, biconditional).

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Definitions:

Belonging

The feeling of security and support when there is a sense of acceptance, inclusion, and identity for a member within a group.

Above-Average Effect

The tendency for individuals to overestimate their abilities or qualities, particularly in comparison to others, also known as the superiority bias.

Self-Verification

The desire and tendency of individuals to seek confirmation of their self-concept from the social environment.

Terror Management Theory

A psychological concept suggesting that humans have anxiety over their mortality, influencing their beliefs and behaviors to manage this fear.