Identify the statement related to controllable variance. Statement 1: General increase in the labor rate Statement 2: Increase in the rate of insurance premium Statement 3: Change in market prices of material Statement 4: Excess usage of material a. Statement 1 b. Statement 4 c. Statement 2 d. Statement 3
Identify the statement related to controllable variance. Statement 1: General increase in the labor rate Statement 2: Increase in the rate of insurance premium Statement 3: Change in market prices of material Statement 4: Excess usage of material a. Statement 1 b. Statement 4 c. Statement 2 d. Statement 3
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 6MC: What are some possible reasons for a material price variance? A. substandard material B. labor rate...
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Question
Identify the statement related to controllable variance. Statement
1: General increase in the labor rate Statement
2: Increase in the rate of insurance premium Statement
3: Change in market prices of material Statement
4: Excess usage of material
1: General increase in the labor rate Statement
2: Increase in the rate of insurance premium Statement
3: Change in market prices of material Statement
4: Excess usage of material
a.
Statement 1
b.
Statement 4
c.
Statement 2
d.
Statement 3
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