for a. True b. False me that actual prodact costs are reconded in order to be the year are then reponed on an internal income staemcet f15. The direct labor time variance measures the the efficiency of the direct labor force. a. True b. False ometimes published in reports to stockholders, as the information is 17. A favorable cost variance occurs when the actual cost is less than the budgeted cost at occurs a. True b. False 18. The statement of cash fows is an optional financial statement. a. True b. False 0,cash paid for dividends reported in the financing section would show ($90,000). a. True year, if dividends were declared for the amount of $90,000 and cash dividends were paid in b. False 20. Net income for the year was $29,500. Accounts receivable increased $2,500, and accounts payabl There were no other i cs rent assets and liabilities. Under the indirect method, the eh operations is $32,400 a. True b. False Page 5 of 9