Which of the following equations can be used to compute a labor rate variance (where AH = actual hours; SH = standard hours allowed; AR = actual rate; SR = standard rate)? Multiple Choice [SH x (AR – SR)) (AH - (AR – SR)] (AH x (AR – SR)) [SH + (AR - SR)

Which of the following equations can be used to compute a labor rate variance (where AH = actual hours; SH = standard hours allowed; AR = actual rate; SR = standard rate)? Multiple Choice [SH x (AR – SR)) (AH - (AR – SR)] (AH x (AR – SR)) [SH + (AR - SR)

Name: Which of the following equations can be used to compute a labor rate
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Description: Which of the following equations can be used to compute a labor rate variance (where AH = actual hours; SH = standard hours allowed; AR = actual rate; SR = standard rate)?Multiple Choice[SH x (AR – SR)][AH - (AR – SR)][AH x (AR – SR)][SH - (AR – SR)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 16MC: When is the direct labor time variance favorable? A. when the actual quantity used is greater than...

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Please help me to calculate direct labor rate variance.....??
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
please solve for these questions: b-1. What is the labor efficiency variance? b-2. What is the labor rate variance? c-1. What is the variable overhead efficiency variance? c-2. What is the variable overhead rate variance?
iv) Labour rate variance v) Labour efficiency variance vi) Overhead variances (both) d.Comment on your calculations produced in c above.
When is the direct labor time 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 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 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 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 is the direct labor time variance?
The variable overhead rate variance is caused by the sum between which of the following? A. actual and standard allocation base B. actual and standard overhead rates C. actual and budgeted units D. actual units and actual overhead rates
The formula to compute the direct labor rate variance is to calculate the difference between: (Choose one of the following) Actual costs + (Actual hours × Standard rate). Actual costs – Standard cost. (Actual hours × Standard rate) – Standard costs. Actual costs – (Actual hours × Standard rate).
Compute for the variances of the problem using the information given. Answer the numbers only up to two decimal places. A. Compute for Labor Efficiency Variance B. Compute for Labor Spending Variance C. Compute for Labor Rate Variance