An unfavorable labor quantity variance indicates that the actual number of direct labor hours worked was greater than the number of direct labor hours that should have been worked for the output attained.
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Q9: Standard cost is the industry average cost
Q10: An advantage of standard costs is that
Q11: The standard predetermined overhead rate must be
Q12: A standard is a unit amount whereas
Q13: Inventories cannot be valued at standard cost
Q15: Normal standards incorporate normal contingencies of production
Q16: Actual costs that vary from standard costs
Q17: Once set normal standards should not be
Q18: In developing a standard cost for direct
Q19: Standard cost + price variance + quantity
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