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Match Each Definition with the Correct Word Part.​

question 32

Multiple Choice

Match each definition with the correct word part.​
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Definitions:

Standard Costing

An accounting method that assigns predetermined costs to cost units, used to control costs and measure performance.

Labour Efficiency Variance

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

Variable Overhead

Indirect manufacturing costs that vary with the level of production output, such as utilities and maintenance expenses.

Labour Rate Variance

The difference between the actual cost of labor and its budgeted (or standard) cost, often arising from paying different wages than anticipated.

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