1) When is the labor variance unfavorable? a) When the actual price is greater than the standard price b) When the actual quantity used is greater than the standard quantity c) When the actual price is less than the standard price d) When the actual quantity used is less than the standard quantity.
1) When is the labor variance unfavorable? a) When the actual price is greater than the standard price b) When the actual quantity used is greater than the standard quantity c) When the actual price is less than the standard price d) When the actual quantity used is less than the standard quantity.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
What is the answer for number 1
![8:20
E Accs 115 final exam (1)
1) When is the labor variance unfavorable?
a) When the actual price is greater than
the standard price
b) When the actual quantity used is
greater than the standard quantity
c) When the actual price is less than the
standard price
d) When the actual quantity used is less
than the standard quantity.
2) In the production report equivalent
consists of
a) Beginning WIP plus units completed and
transferred out
b) Beginning WIP only
c) Units completed and transferred out plus
ending WIP
d) Beginning WIP Plus units completed and
transferred out plus ending WIP
3) All factory costs are treated as
while all administration costs are treated as
a) Period, fixed
b) Fixed Period
c) Product, Period
d) Period, Product
II](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7cfe7066-56b7-49d7-8fb7-978e9d3a0b14%2F66276ea4-11fe-4e40-a2c3-0644c4b25aa1%2F6it35mm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:8:20
E Accs 115 final exam (1)
1) When is the labor variance unfavorable?
a) When the actual price is greater than
the standard price
b) When the actual quantity used is
greater than the standard quantity
c) When the actual price is less than the
standard price
d) When the actual quantity used is less
than the standard quantity.
2) In the production report equivalent
consists of
a) Beginning WIP plus units completed and
transferred out
b) Beginning WIP only
c) Units completed and transferred out plus
ending WIP
d) Beginning WIP Plus units completed and
transferred out plus ending WIP
3) All factory costs are treated as
while all administration costs are treated as
a) Period, fixed
b) Fixed Period
c) Product, Period
d) Period, Product
II
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