{"id":44160,"date":"2024-04-15T21:39:44","date_gmt":"2024-04-15T21:39:44","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=44160"},"modified":"2024-04-15T21:39:44","modified_gmt":"2024-04-15T21:39:44","slug":"match-the-following-list-i-list-ii-a-labour-cost-variance-1-actual-hours-paid-standard-rate-actual-rate-b-labour-rate-variance-2-standard-cost-actual-cost-c-efficiency-variance-3-idle-hou","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/match-the-following-list-i-list-ii-a-labour-cost-variance-1-actual-hours-paid-standard-rate-actual-rate-b-labour-rate-variance-2-standard-cost-actual-cost-c-efficiency-variance-3-idle-hou\/","title":{"rendered":"Match the following. List-I List-II a. Labour cost variance 1. Actual hours paid (Standard rate &#8211; Actual rate) b. Labour rate variance 2. Standard cost &#8211; Actual cost c. Efficiency variance 3. Idle hours \u00c3\u0097 Standard rate per hour d. Idle time variance 4. Standard rate (Standard hours &#8211; Actual hours worked)"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a96ee7eda618\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"true\">\r\n                    a-4, b-3, c-2, d-1                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    a-2, b-3, c-4, d-1                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    a-4, b-1, c-2, d-3                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    a-2, b-1, c-4, d-3                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: A. a-4, b-3, c-2, d-1<\/p>\n<ul>\n<li>Labour cost variance = Standard cost &#8211; Actual cost<\/li>\n<li>Labour rate variance = Actual hours paid (Standard rate &#8211; Actual rate)<\/li>\n<li>Efficiency variance = Standard rate (Standard hours &#8211; Actual hours worked)<\/li>\n<li>Idle time variance = Idle hours \u00c3\u0097 Standard rate per hour<\/li>\n<\/ul>\n<p>Here is a brief explanation of each variance:<\/p>\n<ul>\n<li>Labour cost variance: This variance measures the difference between the actual cost of labour and the standard cost of labour. It can be caused by changes in the actual wage rate, the actual hours worked, or the standard hours allowed.<\/li>\n<li>Labour rate variance: This variance measures the difference between the actual wage rate and the standard wage rate. It can be caused by changes in the market wage rate, changes in the mix of employees, or errors in <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> the payroll.<\/li>\n<li>Efficiency variance: This variance measures the difference between the standard hours allowed and the actual hours worked. It can be caused by changes in the productivity of the workforce, changes in the methods of production, or errors in the timekeeping system.<\/li>\n<li>Idle time variance: This variance measures the difference between the actual hours worked and the standard hours allowed, multiplied by the standard wage rate. It can be caused by machine breakdowns, absenteeism, or poor scheduling.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[952],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Match the following. List-I List-II a. Labour cost variance 1. Actual hours paid (Standard rate - Actual rate) b. Labour rate variance 2. 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