On the Line in Front of Each Variance,enter the Letters

question 137

Short Answer

On the line in front of each variance,enter the letters of the items needed to compute that variance.You will enter more than one item on each line.
A)Actual labor rate
B)Actual labor hours
C)Standard labor rate
D)Standard labor hours
______ Direct labor price variance
______ Direct labor efficiency variance

• A)Actual labor rate
• B)Actual labor hours
• C)Standard labor rate
• D)Standard labor hours
• ______ Direct labor price variance
• ______ Direct labor efficiency variance

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Definitions:

Unrealized Gains

Increases in the value of an asset that has not been sold yet, thus not resulting in actual cash flow or taxable income until the asset is sold.

Trading Securities

Financial instruments such as stocks or bonds that a company holds with the intent of selling them in the short term to profit from price fluctuations.

Broker Commission

A fee paid to a broker for their services, usually a percentage of the transaction value.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a basis for computing rates of return and evaluating its capital structure.