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MMLU / Dawn Corp. uses a standard cost system. During the year both the labor rate…

Problem

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question

Dawn Corp. uses a standard cost system. During the year both the labor rate variance and the labor efficiency variance were unfavorable. Dawn wrote the variances off directly to cost of goods sold. If Dawn had allocated the variances to work in process finished goods and cost of goods sold instead what would have been the effects on current ratio and net income? Current Net ratio income

choices

  1. Increases Increases
  2. Increases Decreases
  3. Decreases Increases
  4. Decreases Decreases

subject

professional_accounting

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Source and history

task_id
46af36fd-8a2d-5afd-9e4c-910272792b3b
task_key
all--test--46af36fd-8a2d-5afd-9e4c-910272792b3b
task_revision_id
1
config / split
all / test

Official source

initial import