Which of the Following States That If an Agent Is

question 33

Multiple Choice

Which of the following states that if an agent is empowered to enter into a contract that must be in writing,then the appointment of the agent must also be written?

• A)Duty to obey instructions
• B)Balanced contract rule
• C)Fiduciary duty
• D)Equal dignities rule

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Definitions:

Labor Rate Variance

Labor rate variance measures the difference between the actual labor costs incurred and the expected (or standard) labor costs, indicating discrepancies in wage rates or labor efficiency.

Actual Direct Labor Rate

The actual wage rate paid to workers, as opposed to the expected or standard rate used in budgeting or costing.

Direct Labor-hours

The total hours of labor directly involved in the manufacturing process of a product.

Labor Rate Variance

It is the difference between the actual cost of labor and the budgeted or expected cost of labor.