An Expression of the Hourly Labor Pay Cost Per Function

question 39

Multiple Choice

An expression of the hourly labor pay cost per function or job classification that is expected to exist during the next accounting period is the definition of a

• A)direct labor time standard.
• B)direct materials quantity standard.
• C)direct labor rate standard.
• D)variable overhead rate.

---

Definitions:

SST

Sum of Squares Total, a measure in statistics that quantifies the total variance within a dataset.

Multiple Coefficient

A term used in multiple regression analysis that indicates the strength and direction of a relationship between variables.

Determination

The measure of how well a set of data points fit a statistical model.

SSR

Sum of Squares for Regression, a statistical measure that showcases how well a regression model captures the explained variance in the data.