The Price of Each of a Firm's Shares Multiplied by the Number

question 12

True/False

The price of each of a firm's shares multiplied by the number of shares outstanding is known as the firm's current market value.

---

Definitions:

Labour Rate Variance

The difference between the actual cost of labour per hour and the standard cost that was expected, multiplied by the total hours worked.

Variable Overhead Efficiency Variance

The difference between the actual variable overhead incurred and the expected variable overhead based on standard costs for the actual production achieved.

Actual Direct Labour Rate

The actual cost per hour paid to workers for their labor.

Standard Labour Rate

The predetermined cost per hour of labor, used in budgeting and costing to estimate the labor costs associated with a product.