The direct labour price variance is calculated using (actual labour price per hour - standard labour price per hour) multiplied by actual hours used.
Correct Answer:
Verified
Q45: In standard costing the price and efficiency
Q46: A contract with a new supplier may
Q47: The standard fixed overhead allocation rate is
Q48: Hiring highly skilled workers could result in
Q49: A change in the price paid in
Q51: Unreasonable standards may be the cause of
Q52: The variable overhead budget variance is the
Q53: Theft of raw materials may cause a
Q54: Normal fluctuations in labour hours may cause
Q55: Fixed overhead costs do not vary with
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents