Examlex

Solved

If the Actual Direct Labor Hours Worked Is Greater Than

question 145

Short Answer

If the actual direct labor hours worked is greater than the standard hours the labor quantity variance will be ___________________ and the labor rate variance will be ____________________ if the standard rate of pay is greater than the actual rate of pay.


Definitions:

Earnings Retention

The portion of a company's profits that is not distributed to shareholders as dividends but is kept by the company to reinvest in its core business or to pay debt.

Annual Dividend

represents the total dividend payment a company distributes to its shareholders within a given fiscal year.

Market Value

The cost for buying or selling assets or services in the marketplace at this time.

Constant Rate

A fixed percentage rate applied over a certain period which does not change.

Related Questions