A price variance is sometimes called a rate variance,especially when referring to direct labour.

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Quizplus · Accepted Answer

This statement is true. A price variance can also be called a rate variance, especially when it refers to direct labour. This variance is calculated by comparing the actual rate paid for direct labour with the standard rate that was budgeted or established for that labour. The difference between the actual and budgeted rate is the price/rate variance.

A Price Variance Is Sometimes Called a Rate Variance,especially When