The Following Information Pertains to William Company: What Is

question 22

Multiple Choice

The following information pertains to William Company: What is the entry to record the direct labor cost and variances?

• A)Payroll 30,000 Labor rate variance 500 Labor efficiency variance 2,500 Accrued payroll 33,000
• B)Work in process 27,000 Labor rate variance 500 Labor efficiency variance 2,500 Payroll 30,000
• C)Work in process 30,000 Payroll 30,000
• D)Work in process 27,000 Labor variances 3,000 Payroll 30,000

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Definitions:

Documenting Competencies

The process of recording and detailing the skills, abilities, and achievements of an individual or organization, often used for assessment or professional development purposes.

Certifying Body

An organization that grants recognition to individuals who have met predetermined qualifications or standards in a profession.

Educational Institution

An organization dedicated to educating people, typically comprising schools, colleges, universities, and training centers.

Formal Training Programs

Structured educational or professional development courses designed to enhance an individual's skills and knowledge in a specific field.