Forker Corporation Has Provided the Following Data Concerning Its Direct

question 48

Multiple Choice

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

• A)debit of $54,634.
• B)debit of $57,875.
• C)credit of $54,634.
• D)credit of $57,875.

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Definitions:

Income and Losses

The financial results of a company's operations, with income indicating profit and losses reflecting expenses that exceed revenues.

Salaries

Payments made to employees for their services, typically expressed in terms of annual amounts but paid in installments like weekly or monthly.

Capital Balances

The amount of money invested in a business by its owners or shareholders, shown on a company's balance sheet.

Net Income

The total profit of a company after all expenses have been deducted from revenue, indicating the company's financial performance in a given period.