____ Are Used for Seconds in a Format Code

question 533

Multiple Choice

____ are used for seconds in a format code.

• A) Sec or sec
• B) S or s
• C) S% or s%
• D) Sec# or sec#

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Definitions:

Labor Efficiency Variance

A measure in managerial accounting that compares the actual hours worked to the standard hours planned for a process, indicating efficiency in labor usage.

Labor Rate Variance

The difference between the actual labor costs incurred and the expected (or standard) labor costs for the production achieved.

May

Not a term that needs defining within the given context.

Labor Efficiency Variance

The variance between the number of hours actually worked and the expected standard hours needed to achieve a specific output level, calculated using the standard labor rate.