Match Each Description to the Appropriate Term (A-H)

question 146

Multiple Choice

Match each description to the appropriate term (a-h) .
-The time between the date a note is issued and the due date of the note

• A)Face amount
• B)Term
• C)Interest
• D)Maturity value
• E)Dishonored note
• F)Maker
• G)Notes receivable
• H)Interest rate

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Definitions:

Direct Labor Hours

The total hours worked by employees directly involved in the manufacturing process.

Payroll

The total amount of wages, salaries, and other earnings paid by a business to its employees.

Labor Efficiency

The measure of the amount of work accomplished with a specific amount of labor input.

Labor Quantity Variance

The difference between the actual labor hours worked and the standard hours expected, multiplied by the standard labor rate.