When a Journal Entry Is Made in a Standard Cost

question 125

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 price 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.

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