Which of the following would produce a labor rate variance? Multiple Choice Use of persons with high hourly wage rates in tasks that call for low hourly wage rates. An unfavorable variable overhead rate variance. Excessive number of hours worked in completing a job Poor quality material causing breakage and work interruptions.
Which of the following would produce a labor rate variance? Multiple Choice Use of persons with high hourly wage rates in tasks that call for low hourly wage rates. An unfavorable variable overhead rate variance. Excessive number of hours worked in completing a job Poor quality material causing breakage and work interruptions.
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 24MC: Which of the following is a possible cause of an unfavorable labor efficiency variance? A. hiring...
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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