Public Subsidy for Tuition Payment at a Nonpublic School Is

question 74

Multiple Choice

Public subsidy for tuition payment at a nonpublic school is referred to as a "______."

• A) voucher
• B) private school
• C) religious school
• D) charter school

---

Definitions:

Labour Rate Variance

The difference between the actual cost of direct labor and the expected (or budgeted) cost.

Standard Cost Card

A detailed listing of the standard amounts of inputs and their costs that are required to produce a unit of a specific product.

Standard Costing

A cost accounting method that assigns predefined costs to direct materials, labor, and overhead, used to compare against actual costs for performance analysis.

Labour Efficiency Variance

The discrepancy between the actual hours worked and the standard hours expected to produce a certain level of output.