In April 2015,Tobias Was Assigned to a Job in the Next

question 28

Multiple Choice

In April 2015,Tobias was assigned to a job in the next county for the day.He drove 75 miles each way for the job,paid $4 in tolls,$7 for parking and $9 for lunch.What is his allowable business expense deduction?

• A)$84
• B)$97.25
• C)$100
• D)$106.25

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Definitions:

Labour Efficiency Variance

The difference between the actual labor hours used and the standard labor hours expected for the level of production achieved, often related to workforce productivity.

Variable Overhead

Costs that fluctuate with the level of production or business activity, such as utilities or raw materials.

Labour Rate Variance

The difference between the actual cost of labor and the expected (or budgeted) cost.

Standard Hours Allowed

The amount of work hours allocated to complete a specific task or project, often used in performance measurement.