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Business
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Financial and Managerial Accounting Study Set 11
Quiz 23: Evaluating Variances From Standard Costs
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Question 61
Multiple Choice
If the wage rate paid per hour differs from the standard wage rate per hour for direct labor, the variance is a _____ variance.
Question 62
Multiple Choice
The following data are given for Stringer Company:
Overhead is applied on standard labor hours. -The direct materials quantity variance is
Question 63
Multiple Choice
The following data are given for Stringer Company:
Overhead is applied on standard labor hours. -The direct materials price variance is
Question 64
Multiple Choice
The following data relate to direct labor costs for the current period: Standard costs 36,000 hours at $22.00 Actual costs 35,000 hours at $23.00 The direct labor time variance is
Question 65
Multiple Choice
The following data relate to direct labor costs for August: actual costs for 5,500 hours at $24.00 per hour and standard costs for 5,000 hours at $23.70 per hour.​ The direct labor rate variance is