The Lennon Company uses a standard costing system and a flexible budget. At a normal level of activity of 15,000 units and 45,000 standard direct labor hours, the standard direct labor cost would be $270,000 . During June, 44,050 hours were worked to produce 14,000 units at an actual direct labor cost of $352,000 . The direct labor efficiency variance in June was
a. $20,300 (U).
b. $12,300 (U).
c. $12,300 (F).
d. $15,300 (U).
B
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Which terms in the equation for Taylor rule can be influenced by the government through monetary policy?
A. Inflation gap and interest-rate spread B. Unemployment gap and interest-rate spread C. Interest-rate spread and unemployment gap D. Output gap and inflation gap
If bonds with a face value of $1,200,000 are sold at 98, Cash is debited for
a. $1,298,000; b. $1,200,000; c. $1,176,000; d. $1,000,000; e. $98,000
Package design firms, market research companies, photographers, and printers are examples of
A. collateral service providers. B. sales promotion agencies. C. companies that assist in media buying. D. interactive agencies. E. creative boutiques.
Customer value is another term for customer satisfaction.
Answer the following statement true (T) or false (F)