Match the Following Formulas or Descriptions with the Term A-E

question 170

Multiple Choice

Match the following formulas or descriptions with the term a-e it defines.
-Actual rate per hour - Standard rate per hour × Actual hours

• A)Direct materials price variance
• B)Direct labor rate variance
• C)Direct labor time variance
• D)Direct materials quantity variance
• E)Budgeted variable factory overhead

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Definitions:

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values around the mean.

Average Amount

A statistical measure that represents the central or typical value in a set of data, often the mean, median, or mode.

Standard Deviation Units

A measure of the amount of variation or dispersion of a set of values, indicating how much the individual values differ from the mean of the sample.

Normal Distribution

A normal distribution is a bell-shaped frequency distribution curve, where most of the occurrences take place around the central peak, and the probabilities of values further away from the mean taper off symmetrically.