.Which of the following statements are true about labor idle time?

Related MCQs

• (A Company has a standard of 1 direct labor hour per unit at Rs.12 per hour. 3,850 labor hours costing Rs.46,970 were used to produce 4,000 units.) Company’s labor price variance is
• (A Company has a standard of 1 direct labor hour per unit at Rs.12 per hour. 3,850 labor hours costing Rs.46,970 were used to produce 4,000 units.) Company’s labor quantity variance is
• (A Company has a standard of 1 direct labor hour per unit at Rs.12 per hour. 3,850 labor hours costing Rs.46,970 were used to produce 4,000 units.) Company’s total labor variance is
• Labour Efficiency Variance is the sum total of I)Labour Mix variance II)Labour Cost Variance III)Idle time Variance IV)Labour yield variance
• Idle time variance arises when
• The formula used for calculation of labor rate variance is
• Direct material cost + direct labor cost + other variable costs is equal to…
• An indirect setup labor costs, costs of setup and equipment maintenance and costs of indirect material can be categorized as
• Given standard time per unit is 80 hours, standard time per hour @ Rs 1 per hour, actual time per unit is 90 hours and actual rate per hour @ Rs 1.10 per hour. Determine labour cost variance, labour rate variance and labour efficiency variance.
• Which of the following statements is NOT true about world-class firms?