Gilder Corporation Makes a Product with the Following Standard Costs

question 92

Multiple Choice

Gilder Corporation makes a product with the following standard costs: The company reported the following results concerning this product in June. The company applies variable overhead on the basis of direct labor-hours.The direct materials purchases variance is computed when the materials are purchased. The labor efficiency variance for June is:

• A)$640 F
• B)$640 U
• C)$612 F
• D)$612 U

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Definitions:

Manufactured Capital

Physical assets created by humans to assist production, such as machinery, buildings, and infrastructure.

Pollution Control

The practices and policies directed towards regulating, reducing or eliminating the release of pollutants into the environment.

Green Accounting

A type of accounting that attempts to factor environmental costs into the financial results of operations.

Gross Domestic Product

An indicator of a nation's economic output, reflecting the aggregate worth of all produced goods and services within a defined timeframe.