A favorable labor rate variance indicates that Multiple Choice actual hours exceed standard hours. standard hours exceed actual hours. the actual rate exceeds the standard rate. the standard rate exceeds the actual rate.

A favorable labor rate variance indicates that Multiple Choice actual hours exceed standard hours. standard hours exceed actual hours. the actual rate exceeds the standard rate. the standard rate exceeds the actual rate.

Name: A favorable labor rate variance indicates that Multiple Choice actual
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: A favorable labor rate variance indicates that Multiple Choice actual hours exceed standard hours. standard hours exceed actual hours. the actual rate exceeds the standard rate. the standard rate exceeds the actual rate.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 17MC: When is the direct labor time variance unfavorable? A. when the actual quantity used is greater than...

See similar textbooks

Similar questions

When is the direct labor time variance favorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
When is the labor rate variance unfavorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
When is the labor rate variance favorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard price
What are some reasons for a material quantity variance? A. building rental charges increase B. labor rate decreases C. more qualified workers D. labor efficiency increases
Identify several causes of an unfavorable labor efficiency variance.
What are some possible reasons for a labor rate variance? A. hiring of less qualified workers B. an excess of material usage C. material price increase D. utilities usage change
Identity several causes of an unfavorable labor rate variance.
What are some possible reasons for a material price variance? A. substandard material B. labor rate increases C. labor rate decreases D. labor efficiency
The variable overhead efficiency variance is caused by the difference between which of the following? A. actual and budgeted units B. actual and standard allocation base C. actual and standard overhead rates D. actual units and actual overhead rates
The labor efficiency variance is the difference between the actual quantity of hours at the standard rate and the standard direct labor hours at the standard rate. A. True B. False
If variable manufacturing overhead is applied to production on the basis of direct labor-hours and the direct labor efficiency variance is unfavorable, will the variable overhead efficiency variance be favorable or unfavorable, or could it be either? Explain.
When is the direct labor time variance favorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price paid is less than the standard price