Match the following: List-I List-II P. Labour cost variance 1. Actual hours paid × (Standard rate - Actual rate) Q. Labour rate variance 2. Standard cost - Actual cost R. Efficiency variance 3. Idle hours × Standard rate
CS Executive · Cost and Management Accounting · PYQS · December 2015
Match the following: List-I List-II P. Labour cost variance 1. Actual hours paid × (Standard rate - Actual rate) Q. Labour rate variance 2. Standard cost - Actual cost R. Efficiency variance 3. Idle hours × Standard rate per hour S. Idle time variance 4. Standard rate × (Standard hours - Actual hours worked) Select the correct answer from the options given below — P Q R S
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Standard Costing
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