When a Journal Entry Is Made in a Standard Cost

question 143

Multiple Choice

When a journal entry is made in a standard cost system to record the liability for direct manufacturing labour costs, the difference between the debit to the work-in-process control account and the credit to the payroll payables is

• A)only the efficiency variance.
• B)only the rate variance.
• C)the difference between the actual wage rate and the budgeted rate, times the actual hours.
• D)the difference between the actual wage rate and the budgeted rate, times the budget hours.
• E)the total of the price and efficiency labour variances.

Comprehend the legal framework governing collective bargaining agreements in Mexico.

Recognize the differences in labor relations systems between Canada and the U.S.

Analyze the role of employer associations and individual companies in collective bargaining outside North America.

Grasp the complexity of enforcing labor laws in Mexico.

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