A Credit Balance in the Labor Yield Variance Implies

question 50

Multiple Choice

A credit balance in the labor yield variance implies:

• A) the total units produced was greater than the expected number of units given the total labor hours actually used.
• B) the total units produced was less than the expected number of units given the total labor hours actually used.
• C) the total units produced was greater than the expected number of units given the total standard hours allowed.
• D) the total units produced was less than the expected number of units given the total standard hours allowed.

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Definitions:

Structural Unemployment

Unemployment that results from industrial reorganization, typically due to technological change, rather than fluctuations in supply or demand.

Equilibrium Level

A state in which market supply and demand balance each other, resulting in stable prices and quantities.

Unemployment

The condition of being without a job, while actively looking for one and being willing to work.

Minimum-wage Laws

Legislation that sets the lowest hourly wage rate that can be paid to workers, intended to protect employees from unduly low pay.