The efficiency ratio can be defined as:

Related MCQs

• What term is used to describe the level of efficiency achieved that appropriately trained, motivated and resourced employees can achieve in the long-run?
• Prime cost can be defined as:
• To produce a particular batch of product, Falcon Corporation paid its workers 12.00 per hour for 4,000 hours of work. The standards for the quantity of work represented by the batch were 12.50 per hour and 4,400 hours. What was the labour efficiency variance?
• In August actual material used amounted to 5,650 kg, budgeted output was 1,000 units and standard material usage was 5 kg per unit. Actual output was 1,075 units. If the standard material cost of each product is 25 the material efficiency variance will be:
• An adverse labour efficiency variance together with a favourable labour rate variance may mean that:
• Standards that can be attained only under the best circumstances are referred to as:
• Which of the following equations can be used to calculate a material price variance?
• Which of the following equations can be used to calculate a material quantity variance?
• A standard that represents the most likely scenario can be referred to as the:
• The labour rate variance can be calculated by the following equation: