The Following Information Describes a Company's Usage of Direct Labor

question 156

Multiple Choice

The following information describes a company's usage of direct labor in a recent period. The direct labor rate variance is:

• A) $28,000 favorable.
• B) $28,000 unfavorable.
• C) $45,000 unfavorable.
• D) $45,000 favorable.
• E) $17,000 unfavorable.

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Definitions:

Statement Of Financial Position

A financial document detailing an entity's assets, liabilities, and equity at a specific point in time, providing a snapshot of its financial condition.

Public Support Contribution Revenue

Income received by non-profit organizations from the public, which can include donations, grants, and other forms of financial support.

Not-for-Profit Entity

An organization that operates for purposes other than generating profit, often focused on social, educational, or humanitarian objectives.

Form 990

A tax form filed by nonprofit organizations to provide the IRS with annual financial information, including revenue, expenses, and compensation of officers.