Cafferty Corporation Has Provided the Following Data Concerning Its Direct

question 46

Multiple Choice

Cafferty Corporation has provided the following data concerning its direct labor costs for March: The Labor Efficiency Variance for March would be recorded as a:

• A)Debit of $3,200
• B)Credit of $3,125
• C)Credit of $3,200
• D)Debit of $3,125

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Definitions:

Total Amount

The complete sum of money or quantitative count, including all relevant parts or items added together.

Simple Interest

Interest earned or paid on the initial principal amount of an investment or loan.

Exact Interest

A method of calculating interest based on a 365-day year or the actual number of days in a year.

365-Day Year

A method used in finance that assumes a year has 365 days and is used for calculating interest rates or other financial metrics.