Which of the Following Direct Labor Variances Uses the Standard $\begin{array} { l l l } & { \text { Price } } & { \text { Efficiency } } \\\end{array}$

question 68

Multiple Choice

Which of the following direct labor variances uses the standard hours allowed for the actual number of units produced?

$\begin{array} { l l l } & { \text { Price } } & { \text { Efficiency } } \\\end{array}$
A. $\begin{array} { l l l } & \text { Yes } && \text { Yes } \\\end{array}$
B. $\begin{array} { l l l } & \text { No } && \text { No } \\\end{array}$
C. $\begin{array} { l l l } & \text { Yes } && \text { No } \\\end{array}$
D. $\begin{array} { l l l } & \text { No } && \text { Yes } \\\end{array}$

• A) Option A
• B) Option B
• C) Option C
• D) Option D

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Definitions:

Net Asset Value

The value per share of a fund, calculated by dividing the total value of the fund's assets minus its liabilities by the number of shares outstanding.

Year-End Assets

These are the total value of all assets that a company or individual owns at the end of the fiscal year.

Liabilities

Financial obligations or debts owed by a business to creditors, which must be paid back at some point in the future.

Net Asset Value

The total value of a fund's assets minus its liabilities, often used in context with mutual funds and represents the per-share/unit price of the fund.