Jackson Company Uses a Standard Cost System What Were the Actual Hours Worked for the Month of to Direct

question 92

Multiple Choice

Jackson Company uses a standard cost system.The following information pertains to direct labor for product B for the month of October:
$$\begin{array} { | l | c | c | } \hline \text { Standard hours allowed for actual production } & 2,000 & \\\hline \text { Actual rate paid per hour } & \$ 8.40 & \\\hline \text { Standard rate per hour } & \$ 8.00 & \\\hline \text { Labor efficiency variance } & \$ 1,600 & \cup \\\hline\end{array}$$ What were the actual hours worked for the month of October?

• A) 1,800.
• B) 1,810.
• C) 2,190.
• D) 2,200.

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Definitions:

Comprehensive Income

Comprehensive income is the total change in equity for a business enterprise during a period from transactions and other events and circumstances from non-owner sources, including all non-owner changes in equity such as unrealized gains and losses on investments.

Unrealized Gains

Increases in the value of an asset that has not been sold and therefore the profit has not been realized.

Dividends Paid

Cash or stock payments made by a company to its shareholders out of its profits.

Exchange Rate

The cost of a nation's currency expressed in the currency of a different nation.