Fletcher Company collected the following data regarding production of one of its products. Compute the fixed overhead cost variance. Direct labor standard (2 hrs. a $12.75/hr) $25.50 per finished unit 81,500 hrs. Actual direct labor hours 42,000 units Budgeted units Actual finished units produced 40,000 units Standard variable OH rate (2 hrs. $14.30/hr.) $28.60 per finished unit Standard fixed OH rate ($336,000/42,000 units) $8.00 per unit $1140,000 Actual cost of variable overhead costs incurred $338,000 Actual cost of fixed overhead costs incurred

a. $18,000 favorable.
b. $18.300 favorable
c. $18,000 unfavorable.
d. $18.300 unfavorable
e. $14.300 unfavorable.

Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal that’s being measured. while the scale is highly reliable in producing consistent results (e. g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what it’s supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.