The Difference Between the Actual Labor Rate and the Standard

question 81

Multiple Choice

The difference between the actual labor rate and the standard labor rate,multiplied by the actual labor hours,is the:

• A)direct labor spending variance.
• B)direct labor volume variance.
• C)direct labor rate variance.
• D)direct labor efficiency variance.

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Definitions:

Proportion

The fraction or percentage that represents a part of a whole or any number of items in relation to the total.

Confidence Interval

A range of values, derived from the statistics of observed data, that is likely to contain the value of an unknown population parameter.

Confidence Interval

A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter.

Population

In statistics, the entire set of individuals or items from which samples can be drawn for analysis.