Which of the Following Items May Be Listed on a Materials

question 49

Multiple Choice

Which of the following items may be listed on a materials requisition form to maintain proper control over a firm's inventory of direct materials?

• A)cost of supplies
• B)cost of lubricants for production machinery
• C)the date and a signature
• D)the date and the cost of the form

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Definitions:

Labor Efficiency Variance

The difference between the actual labor hours worked and the expected labor hours, multiplied by the standard labor rate, indicating efficiency in labor use.

Labor Rate Variance

A metric that calculates the difference between the actual and expected cost of labor.

Labor Efficiency Variance

The difference between the actual labor hours used and the standard labor hours expected for the level of production achieved, indicating labor productivity.

Labor Rate Variance

The difference between the actual cost of labor and the budgeted or standard cost, indicating efficiency or inefficiency in workforce use.