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:

Fishbein

Refers to the Fishbein model, a theory of attitude formation and change, named after psychologist Martin Fishbein.

Self-Perception Theory

Bem’s idea that we gain knowledge of ourselves only by making self-attributions; for example, we infer our own attitudes from our own behaviour.

Own Behaviour

Refers to an individual's actions or conduct, often considered in the context of how it is influenced by or affects social interactions.

Evaluative Link

Evaluative link refers to the cognitive and emotional connection made between various concepts, objects, or entities, determining how favorably or unfavorably they are viewed.