The Standard Costs and Actual Costs for Direct Labor for the Manufacture

question 29

Multiple Choice

The standard costs and actual costs for direct labor for the manufacture of 2,500 actual units of product are as follows: The amount of the direct labor rate variance is:

• A) $2,960 unfavorable
• B) $4,500 favorable
• C) $2,960 favorable
• D) $4,500 unfavorable

Comprehend the concept and importance of source credibility in marketing.

Recognize the mere exposure effect and its significance in consumer preferences.

Understand the strategic application of fear in advertising messages.

Grasp the concept of comparative advertising and its strategic uses.

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Definitions:

Cost Of Goods Sold

The immediate expenses linked to manufacturing the products a company sells, encompassing the price of materials and the labor needed to produce the item.

Merchandise Sold

This represents the goods that have been sold and delivered to customers.

Defective Merchandise

Goods that fail to meet quality standards and are therefore returned, repaired, or sold at a discounted price.

Selling Price

Selling price is the amount of money for which a seller is willing to sell his or her product or service.