Labour cost variance is the difference between standard cost of labour and………..

Related MCQs

• Material price variance is the difference between standard and actual prices of materials used multiplied by………………..
• Material mix variance = standard cost of standard mix - ………………..
• Material Usage Variance=Material Mix Variance +…………..
• Total Labour cost variance =
• Material usage variance = standard price(……………….)
• Labour rate variance is computed by multiplying the
• A company estimates its direct material requirements for the month of November 2014 to be Rs. 2,40,000 and the direct labour to be Rs. 1,500,00. It is the policy of the company to absorb overheads as under : Factory overheads 60% of direct wages Administrative overheads 20% of work cost Selling and distribution overheads 25% of work cost it is estimated that the selling and distribution overheads will increase by 15% in November the budgeted sales for the month of November 2014 is
• The difference between fixed and variable cost has a special significance in the preparation of
• ………………….budget may be classified into material cost budget, labour cost budget and overhead budget.
• The cost of labour which is directly engaged in production work and can be conveniently identified to a job, process or cost unit is