Efficient Corporation Uses a Standard Cost System Refer to the Information Provided for Efficient Corporation

question 165

Multiple Choice

Efficient Corporation uses a standard cost system. The following information was provided for the period that just ended: $\begin{array}{ll}\$ 11.75 & \text { Actual price per gallon } \\5,000 & \text { Actual gallons of material used } \\\$ 17.00 & \text { Actual hourly labor rate } \\24,300 & \text { Actual hours of prochuction } \\\$ 12.00 & \text { Standard price per gallon } \\1 / 2 & \text { Standard gallons per completed urit } \\\$ 12.00 & \text { Standard hourly labor rate } \\3 \mathrm{hrs} . & \text { Standard time per completed urit } \\9,000 & \text { Units completed churingthe period }\end{array}$ Refer to the information provided for Efficient Corporation. The direct labor rate variance is:

• A) $135,000 unfavorable.
• B) $89,100 favorable.
• C) $89,100 unfavorable.
• D) $121,500 unfavorable.

Understand the strong and weak axioms of revealed preference and their application to consumer choice.

Comprehend how changes in prices and income affect consumption choices under different circumstances.

Analyze the impact of exchange rate fluctuations and futures contracts on individual financial welfare.

Understand the calculation and interpretation of Laspeyres and Paasche price indices.

---

Definitions:

Social Workers

Professionals dedicated to helping individuals, families, and communities to cope with challenges and improve their well-being.

Insight Therapies

A category of psychotherapies aiming to increase a patient's awareness of underlying motives and defenses.

Undesirable Behaviors

Actions or reactions that are considered inappropriate, unacceptable, or harmful by societal standards.

Biological Functioning

The processes and activities carried out by living organisms' systems that are necessary for maintaining life and health.