Which of the following statement(s) is/are not correct with reference to labour idle time variance: (1) Idle time variance is the portion of labour cost variance which arises due to abnormal idle time of workers specifie
CS Executive · Cost and Management Accounting · PYQS · December 2016
Which of the following statement(s) is/are not correct with reference to labour idle time variance: (1) Idle time variance is the portion of labour cost variance which arises due to abnormal idle time of workers specified (2) Idle time variance may be favourable or adverse (3) Idle time variance is calculated as abnormal idle time X actual rate per hour (4) Idle time variance arises due to machine break-down, power failure, etc. Select the answer from the options given below —
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Cost Accounting
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