A Common Feature of Flextime Plans Is the Establishment of Core

question 336

True/False

A common feature of flextime plans is the establishment of core times when all employees are expected to be at their job stations.

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Definitions:

Standard Hours Allowed

The number of labor hours that should have been worked according to budgeted productivity levels for the actual level of production achieved.

Labor Rate Variance

The difference between the actual hourly wage paid to workers and the standard or expected wage rate.

Standard Labor Rate

The predetermined hourly wage rate used in cost accounting to calculate labor costs.

Standard Hours Allowed

The number of hours that should have been worked for the actual production achieved, based on pre-established standards.