Indicate Whether Each of the Following Statements Is True or False

question 103

Short Answer

Indicate whether each of the following statements is true or false.
The labor price variance is favorable when the actual rate paid for labor is higher than the standard rate.______
The production department is generally responsible for the labor price variance.______
If the standard quantity of labor per unit of a product is 0.5 hours and the actual quantity of labor is 0.45 hours,the labor price variance is favorable.______
Labor price variances measure the productivity of the labor force.______
Machine breakdowns and inferior materials can result in an unfavorable labor usage variance.______

---

Definitions:

Letterhead Stationery

Predesigned paper used for official correspondence that typically includes a company's name, logo, and contact information.

Company's URL

The specific web address that leads directly to a company's official website on the internet.

Standard Parts

Regularly used components or sections in documents, products, or processes that adhere to normative guidelines.

Signature Block

The section at the end of a document or email where the sender includes their name, position, and sometimes contact information, indicating approval or authorship.