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Kruller AG issues a bond that is offered for sale simultaneously in Europe, the United States and Japan. Which of the following best describes this bond?
Labor Rate Variance
The difference between the actual cost of labor and the standard or expected cost, which can occur due to wage rate changes or differences in worker efficiency.
Labor Efficiency Variance
The difference between the actual labor hours taken to produce something and the standard labor hours expected, multiplied by the labor rate.
Direct Labor
The wages and salaries for workers who are directly involved in the production of goods.
Raw Materials
The basic materials and substances used in the initial stages of production to manufacture goods.
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