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Use the following data to find the total direct labor cost variance if the company produced 3,700 units during the period. Direct labor standard (4hrs. @ $6/hr.) $24 Actual hours worked Actual rate per hour a. $7,400 unfavorable b. $12,950 favorable. c. $64,750 favorable. d. $4,625 unfavorable. e. $7,400 favorable. 3,700 $6.50 During the last year, Lucky Corp. generated $702 million in cash flow from operating activities and had negative cash flow generated from investing activities (-$384 million). At the end of the first year, Lucky Corp. had $120 million in cash on its balance sheet, and the firm had $280 million in cash at the end of the second year. What was the firm's cash flow (CF) due to financing activities in the second year? A. $197.50 million B. $118.50 million C. -$79.00 million D. -$158.00 million

Use the following data to find the total direct labor cost variance if the company produced 3,700 units during the period. Direct labor standard (4hrs. @ $6/hr.) $24 Actual hours worked Actual rate per hour a. $7,400 unfavorable b. $12,950 favorable. c. $64,750 favorable. d. $4,625 unfavorable. e. $7,400 favorable. 3,700 $6.50 During the last year, Lucky Corp. generated $702 million in cash flow from operating activities and had negative cash flow generated from investing activities (-$384 million). At the end of the first year, Lucky Corp. had $120 million in cash on its balance sheet, and the firm had $280 million in cash at the end of the second year. What was the firm's cash flow (CF) due to financing activities in the second year? A. $197.50 million B. $118.50 million C. -$79.00 million D. -$158.00 million

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 8EB: Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450...
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Use the following data to find the total direct labor cost variance if the company produced 3,700 units during the period. Direct labor standard (4hrs. @ $6/hr.) $24 Actual hours worked Actual rate per hour a. $7,400 unfavorable b. $12,950 favorable. c. $64,750 favorable. d. $4,625 unfavorable. e. $7,400 favorable. 3,700 $6.50 During the last year, Lucky Corp. generated $702 million in cash flow from operating activities and had negative cash flow generated from investing activities (-$384 million). At the end of the first year, Lucky Corp. had $120 million in cash on its balance sheet, and the firm had $280 million in cash at the end of the second year. What was the firm's cash flow (CF) due to financing activities in the second year? A. $197.50 million B. $118.50 million C. -$79.00 million D. -$158.00 million
Transcribed Image Text:Use the following data to find the total direct labor cost variance if the company produced 3,700 units during the period. Direct labor standard (4hrs. @ $6/hr.) $24 Actual hours worked Actual rate per hour a. $7,400 unfavorable b. $12,950 favorable. c. $64,750 favorable. d. $4,625 unfavorable. e. $7,400 favorable. 3,700 $6.50 During the last year, Lucky Corp. generated $702 million in cash flow from operating activities and had negative cash flow generated from investing activities (-$384 million). At the end of the first year, Lucky Corp. had $120 million in cash on its balance sheet, and the firm had $280 million in cash at the end of the second year. What was the firm's cash flow (CF) due to financing activities in the second year? A. $197.50 million B. $118.50 million C. -$79.00 million D. -$158.00 million
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