Match the following.
| List-I | List-II |
| a. Labour cost variance | 1. Actual hours paid (Standard rate - Actual rate) |
| b. Labour rate variance | 2. Standard cost - Actual cost |
| c. Efficiency variance | 3. Idle hours × Standard rate per hour |
| d. Idle time variance | 4. Standard rate (Standard hours - Actual hours worked) |
A. a-4, b-3, c-2, d-1
B. a-2, b-3, c-4, d-1
C. a-4, b-1, c-2, d-3
D. a-2, b-1, c-4, d-3
Answer: Option D
This Question Belongs to Management >> Management Accounting
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