When a Company Is Using Standard Costs, Favorable Variances Are

question 22

True/False

When a company is using standard costs, favorable variances are good news, and so the reasons for them do not need to be explained or investigated.

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Definitions:

Right To Strike

The legal right of workers to cease work in order to gain concessions from their employer, such as higher pay or improved working conditions.

Right To Lockout

The legal right of an employer to deny employees access to the workplace during a dispute, as a counterpart to the right to strike.

Representation Votes

A voting process in which employees decide whether they want to be represented by a union.

Bargaining Unit

A group of employees of an employer represented by a trade union recognized or certified as their exclusive bargaining representative.