Labour rate variance is computed by multiplying the:
A. Standard labour rate with the difference between standard labour hours and actual labour hours
B. Actual labour hours with the difference between standard labour hours and actual labour hours
C. Actual labour rate with the difference between standard labour rate and actual labour hours
D. None of the above
Answer: Option D
Related Questions on Costing
Basic objective of cost accounting is ________
A. tax compliance.
B. financial audit.
C. cost ascertainment.
D. profit analysis.
Process costing is suitable for ________.
A. hospitals
B. oil refing firms
C. transport firms
D. brick laying firms
The cost which is to be incurred even when a business unit is closed is a _____.
A. imputed cost
B. historical cost
C. sunk cost
D. shutdown cost
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