A Large Labor Efficiency Variance Is Prorated to Which of the Following

question 133

Multiple Choice

A large labor efficiency variance is prorated to which of the following at year-end?
                                                  WIP              $F G$
Cost of Goods Sold                $\text {\underline{ Inventory} }$       $\text {\underline{ Inventory} }$

• A)no no no
• B)no yes yes
• C)yes no no
• D)yes yes yes

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Definitions:

One-tailed

A one-tailed test in statistics is a hypothesis test where the region of rejection is on only one side of the sampling distribution, focusing on a direction of interest.

Two-tailed

A statistical test that considers both directions for the possibility of a relationship in the population, not just one or the other.

Very Significant Correlation

A strong and meaningful relationship between two variables indicated by statistical measures that far exceed the thresholds of significance.

Accounted Variance

The portion of the total variance in a set of data that is explained by a statistical model or variable.