Swan Company has a direct labor standard of 15 hours per unit of output. Each employee has a standard wage rate of $14 per hour. During March, employees worked 13,100 hours. The direct labor rate variance was $9,170 favorable, and the direct labor efficiency variance was $15,400 unfavorable. How many units were produced?
A. 1,100 units
B. 655 units
C. 800 units
D. 873 units
Answer: C
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Beatrice has a perceived inequity with Tobias. She decided that Tobias might work a little harder than she does, therefore she picks someone else who matches her own work ethic, Jeanine. Once Beatrice has done this, she perceives an equity of fairness and feels better about her own work situation. Beatrice decided to do which of the six behaviors stated in the textbook that changes perceived inequity?
A. change equity theory person B. change inputs C. pick another “other” D. attempt to change outcomes
Reliable Manufacturers had no units in process at the beginning of the year. During the current year, 140,000 units were started. There were 15,000 units in work-in-process at the end of the year. These units were 40% complete. If total production costs for the year were $393,000 what should be the cost per equivalent unit?
A) $3.00 B) $3.14 C) $2.69 D) $2.93
Not all positions on a strategic group map are equally attractive because
A. entry and exit barriers are different for each strategic group. B. key success factors are substantially different for differently positioned industry participants. C. industry-driving forces and competitive pressures favor some groups and disadvantage others. D. across-group rivalry is always weakest at the outer edge of the strategic group map. E. small strategic groups are always less profitable than large strategic groups.
Licensing can be used by the entrepreneur to:
A. insulate management from liability. B. protect the Board of Directors from liability. C. protect confidentiality of a trade secret. D. copy a competitor's patent.