Which one of the following is the variance that deals with under or over achievement of budgeted direct labour hours? A. Direct labour usage variance B. Direct labour time variance C. Direct labour efficiency variance D. Direct labour rate variance
Which one of the following is the variance that deals with under or over achievement of budgeted direct labour hours? A. Direct labour usage variance B. Direct labour time variance C. Direct labour efficiency variance D. Direct labour rate variance
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 9PB: Ribcos labor cost information for making its only product for March is as follows: A. What is the...
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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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Which one of the following is the variance that deals with under or over achievement of budgeted direct labour hours?
A. Direct labour usage variance
B. Direct labour time variance
C. Direct labour efficiency variance
D. Direct labour rate variance
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