Which of the Following Is Not Used in Calculating the Direct

question 156

Multiple Choice

Which of the following is not used in calculating the direct labor efficiency variance?

• A)The actual quantity of direct labor hours used
• B)The standard quantity of direct labor hours allowed for actual production
• C)The actual wage rate
• D)The standard wage rate

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Definitions:

FICA-Social Security

A U.S. government program funded by payroll taxes, providing benefits to retirees, disabled individuals, and survivors of deceased workers.

Employee Taxes Withheld

Amounts deducted from an employee's paycheck for taxes, including federal and state income tax and payroll taxes.

Times Interest Earned

This metric evaluates a business's capacity to settle its debt liabilities by contrasting its pre-interest and tax earnings with its costs from interest.

Interest Expense

The cost incurred by an entity for borrowing money, paid as interest on debt.