A Favorable Labor Rate Variance Is Created When

question 2

Multiple Choice

A favorable labor rate variance is created when:

• A) actual labor hours worked exceed standard hours allowed.
• B) actual hours worked are less than standard hours allowed.
• C) actual wages paid are less than amounts that should have been paid for the number of hours worked.
• D) actual units produced exceed budgeted production levels.
• E) actual units produced exceed standard hours allowed.

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Definitions:

Reliability

The degree to which an assessment tool produces stable and consistent results over time.

Public Policies

Governmental laws and programs designed to promote the welfare of children and families.

Child Development

The physical, cognitive, emotional, and social growth that occurs from infancy through adolescence.

Correlated

A statistical relationship between two variables where a change in one is associated with a change in the other.