The Actual Hourly Rate Paid Above or Below the Standard

question 41

Multiple Choice

The actual hourly rate paid above or below the standard hourly rate,multiplied by the actual number of hours worked is the:

• A)Labor rate variance.
• B)Labor efficiency variance.
• C)Labor usage variance.
• D)Labor direct variance.

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Definitions:

Prices

The amount of money required to purchase a good or service, determined by factors like supply and demand in the market.

Ownership

The legal right or title to an asset or property, implying control and responsibility over it.

Jelly

A food spread made from fruit juice and sugar, thickened with pectin, commonly consumed with bread.

Peanut Butter

A food paste or spread made from ground dry roasted peanuts, often used in sandwiches and as a base in various recipes.