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Manuel was the Alberta sales manager employed by Vulcan Co,which produces and sells gas-burning fireplaces.Manuel was responsible for all aspects of Vulcan's business in Alberta.He determined how the business of the corporation was to be carried on.Manuel was negligent in installing a fireplace and the customer's house burned down.Which of the following best describes the liability of Vulcan based on these facts?
Labor Rate Variance
The difference between the actual cost of labor and the budgeted cost, indicating how well a company has controlled its labor costs.
Labor Efficiency Variance
The difference between the actual hours worked by employees to produce goods and the expected hours, used to measure workforce efficiency.
Variable Overhead Rate Variances
The difference between the actual variable overhead incurred and the standard variable overhead allocated to production, indicating cost control efficiency.
Lubricants
Oils, greases, and other substances used to reduce friction between mechanical parts.
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