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Solly Corporation produces a product for national distribution. Standards for the product are: . Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. • Labor: 2,500 hours worked at a total cost of $20,625. . The labor efficiency variance is: Multiple Choice $4,000 F O $4,125 F $4,125 U $4,000 U

Solly Corporation produces a product for national distribution. Standards for the product are: . Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. • Labor: 2,500 hours worked at a total cost of $20,625. . The labor efficiency variance is: Multiple Choice $4,000 F O $4,125 F $4,125 U $4,000 U

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. . • Labor: 2,500 hours worked at a total cost of $20,625. The labor efficiency variance is: Multiple Choice $4,000 F $4,125 F $4,125 U $4,000 U
Transcribed Image Text:Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. . • Labor: 2,500 hours worked at a total cost of $20,625. The labor efficiency variance is: Multiple Choice $4,000 F $4,125 F $4,125 U $4,000 U
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