The Labor Efficiency Variance Is Labeled Favorable (F) If the Actual

question 157

True/False

The labor efficiency variance is labeled favorable (F) if the actual hours used is less than the standard hours allowed for the actual output.

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Definitions:

Nominal Scale

The scale of measurement for a variable when the data are labels or names used to identify an attribute of an element. Nominal data may be nonnumeric or numeric.

Ordinal Scale

A ranking scale used to measure variable where the order of values is significant, but the difference between values is not uniform.

Rank Order

A method of arranging data points based on their value, from highest to lowest or vice versa.

Measurement

The process or the result of determining the size, length, or amount of something, usually according to a set of standard units.