Calculate the Correct Variances from the Following: Budgeted Sales $78

question 4

Multiple Choice

Calculate the correct variances from the following: budgeted sales $78 000; actual sales $83 000; actual direct labour $36 000; budgeted direct labour $40 000.

• A) Sales variance $5000 U: direct labour variance $4000 F
• B) Sales variance $5000 F: direct labour variance $4000 F
• C) Sales variance $5000 F: direct labour variance $4000 U
• D) Sales variance $5000 U: direct labour variance $4000 U

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Definitions:

Zeigarnik Effect

A tendency to experience automatic, intrusive thoughts about a goal whose pursuit has been interrupted.

Temporal Discounting

The tendency to value immediate rewards more highly than future rewards, affecting decision-making and impulse control.

Delay Gratification

The capacity to withstand the lure of an instant gratification in favor of a future, potentially more significant, reward.

Pocket Money

Typically refers to a small amount of money given by parents to their children on a regular basis to spend as they wish.