None An unfavorable labor efficiency variance can result fromO an increase in workers' hourly ratesO high priced materialsO the payment of overtime premiumsO worker skill level

Labor efficiency and labor rate variances are key performance indicators used in cost accounting to…

Answered: An unfavorable labor efficiency…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 12MC: What are some possible reasons for a labor rate variance? A. hiring of less qualified workers B. an...

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Similar questions

Which of the following is a possible cause of an unfavorable labor rate variance? A. hiring too many workers B. hiring higher-quality workers at a higher wage C. making too many units D. purchasing too much material
Which of the following is a possible cause of an unfavorable labor efficiency variance? A. hiring substandard workers B. making too many Units C. buying higher-quality material D. paying too much for workers
Identity several causes of an unfavorable labor rate variance.
What are some reasons for a material quantity variance? A. building rental charges increase B. labor rate decreases C. more qualified workers D. labor efficiency increases
Why does a company use a standard costing system? A. to identify variances from actual cost that assist them in maintaining profits B. to identify nonperformers in the workplace C. to identify what vendors are unreliable D. to identify defective materials
In recent years, why has labor become such a small part of product costs and how can its use in overhead allocation perpetrate errors in decision-making?
An example of labor-related costs is: bonus pay factory labor fringe benefits operating expense
Which of the following is a possible cause of an unfavorable material quantity variance? A. purchasing substandard material B. hiring higher-quality workers C. paying more than should have for workers D. purchasing too much material
Dog
The labor supply curve a. may slope either upward or downward, depending upon the real wage b. slopes downward to illustrate that a decrease in the real wage decreases the number of individuals willing to work c. slopes upward to illustrate that more people will want to work as the real wage increases d. slopes upward to illustrate that changes in the real wage are directly proportional to changes in the nominal wage e. slopes downward to illustrate that the availability of workers is directly proportional to the real wage
If the activities causing overhead costs are different across different departments and products, use of a plantwide factory overhead rate will cause distorted product costs. True False
Which of the following is false about actual overhead while using normal costing? a. Actual overhead is recorded to the overhead control account during the period. b. If the actual overhead is greater than the applied overhead then the overhead is underapplied Overhead variance is the difference between actual overhead and applied C. overhead. d. It is divided into many smaller accounts such as indirect labor, supplies, etc. е. None of these. Select one: O c O d O a O e O b

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An unfavorable labor efficiency variance can result from O an increase in workers' hourly rates O high priced materials O the payment of overtime premiums O worker skill level