{"id":55383,"date":"2024-04-16T00:26:27","date_gmt":"2024-04-16T00:26:27","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=55383"},"modified":"2024-04-16T00:26:27","modified_gmt":"2024-04-16T00:26:27","slug":"the-labour-rate-of-pay-variance-can-be-calculated-by-which-of-the-following-equations","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-labour-rate-of-pay-variance-can-be-calculated-by-which-of-the-following-equations\/","title":{"rendered":"The labour rate of pay variance can be calculated by which of the following equations?"},"content":{"rendered":"

[amp_mcq option1=”Budgeted labour costs – Actual labour costs” option2=”(Standard hours – Actual hours) \u00c3\u0097 Actual wage rate” option3=”(Standard wage rate – Actual wage rate) \u00c3\u0097 Actual hours worked” option4=”(Standard wage rate – Actual wage rate) \u00c3\u0097 Standard hours worked” correct=”option3″]<\/p>\n

The correct answer is: C. (Standard wage rate – Actual wage rate) \u00c3\u0097 Actual hours worked<\/p>\n

The labor rate variance is the difference between the actual wage rate and the standard wage rate, multiplied by the actual hours worked. It measures the difference between the actual cost of labor and the standard cost of labor, due to a difference in wage rates.<\/p>\n

Option A is incorrect because it calculates the labor cost variance, which is the difference between the actual labor costs and the standard labor costs.<\/p>\n

Option B is incorrect because it calculates the labor efficiency variance, which is the difference between the actual hours worked and the standard hours worked, multiplied by the standard wage rate.<\/p>\n

Option D is incorrect because it calculates the labor usage variance, which is the difference between the standard hours worked and the actual hours worked, multiplied by the standard wage rate.<\/p>\n","protected":false},"excerpt":{"rendered":"

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