The Direct Labor Rate Variance Is the Part of the Direct

question 52

True/False

The direct labor rate variance is the part of the direct labor flexible budget variance that arises when the actual wage rate differs from the standard wage rate.

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Definitions:

Set of Data

A collection of related sets of information that is composed of separate elements but can be manipulated as a unit by a computer.

Population Standard Deviation

A measure that quantifies the amount of variation or dispersion of a set of values in a total population.

Set of Data

A set of data refers to a collection of numbers or values that relate to a particular subject or experiment.

Parameter

Numeric characteristic of a population.