Allen boating company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. allen uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were asfollows:

direct materials: 11 pound per unit; $12 per pound

direct labor: 22 hours per unit; $18 per hour allen produced 2,000 units during the quarter. at the end of the quarter, an examination of the direct materials records showed that the company used 6,500 pounds of direct materials and actual total materials costs were $ 98 comma 400$98,400. what is the direct materials efficiency variance?

a. $54,000 f
b. $54,000 u
c. $ $24,000 f
d. 24,000 u

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

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