{"id":53970,"date":"2024-04-16T00:02:14","date_gmt":"2024-04-16T00:02:14","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=53970"},"modified":"2024-04-16T00:02:14","modified_gmt":"2024-04-16T00:02:14","slug":"total-labour-cost-variance","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/total-labour-cost-variance\/","title":{"rendered":"Total Labour cost variance ="},"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_6a9715737945d\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"true\">\r\n                    Standard cost of labour - actual cost of labour                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    Standard rate (standard time for actual output - actual time worked)                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    Standard rate (standard time for actual output - actual time paid for)                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    Actual time taken (standard rate - actual rate)                <\/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. Standard cost of labour &#8211; actual <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> cost of labour.<\/p>\n<p>The total labour cost variance is the difference between the standard cost of labour and the actual cost of labour. The standard cost of labour is calculated by multiplying the standard rate per hour by the standard time allowed for the job. The actual cost of labour is calculated by multiplying the actual rate per hour by the actual time worked.<\/p>\n<p>Option B is incorrect because it uses the standard time for actual output, which is not the same as the standard time allowed for the job. Option <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 11.4 132.3c6.3 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> C is incorrect because it uses the standard rate for actual output, which is not the same as the standard rate per hour. Option D is incorrect because it uses the actual time taken, which is not the same as the actual time worked.<\/p>\n<p>Here is a more detailed explanation of each option:<\/p>\n<ul>\n<li>Option A: Standard cost of labour &#8211; actual cost of labour. This is the correct answer because it is the only option that correctly calculates the total labour cost variance. The standard cost of labour is calculated by multiplying the standard rate per hour by the standard time allowed for the job. The actual cost of labour is calculated by multiplying the actual rate per hour by the actual time worked. The total labour cost variance is the difference between the standard cost of labour and the actual cost of labour.<\/li>\n<li>Option B: Standard rate (standard time for actual output &#8211; actual time worked). This option is incorrect because it uses the standard time for actual output, which is not the same as the standard time allowed for the job. The standard time for actual output is the time that it actually took to produce the output, while the standard time allowed for the job is the time that it should have taken to produce the output.<\/li>\n<li>Option C: Standard rate (standard time for actual output &#8211; actual time paid for). This option is incorrect because it uses the standard rate for actual output, which is not the same as the standard rate per hour. The standard rate for actual output is the rate that was paid for the actual output, while the standard rate per hour is the rate that should have been paid for the output.<\/li>\n<li>Option D: Actual time taken (standard rate &#8211; actual rate). This option is incorrect because it uses the actual time taken, which is not the same as the actual time worked. The actual time taken is the time that it actually took to complete the job, while the actual time worked is the time that the employee was paid for working on the job.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>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>Total Labour cost variance =<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/total-labour-cost-variance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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