Match the Following Formulas or Descriptions with the Term A-E

question 170

Multiple Choice

Match the following formulas or descriptions with the term a-e it defines.
-Actual rate per hour - Standard rate per hour × Actual hours

• A)Direct materials price variance
• B)Direct labor rate variance
• C)Direct labor time variance
• D)Direct materials quantity variance
• E)Budgeted variable factory overhead

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Definitions:

Retained Earnings

The portion of net income left over for the business after it has paid out dividends to its shareholders, indicated on the balance sheet.

Net Income

The conclusive profit of a corporation post-deduction of all operational costs and taxation from the aggregate revenue.

Cash Dividends

Payments made by a corporation out of its earnings to its shareholders, usually in the form of cash.

Stock Dividends

A payment made to shareholders in the form of additional shares, rather than cash.