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28 August, 06:03

The formula to the compute direct labor time variance is to calculate the difference between

a. (Actual Hours * Standard Rate) - Standard Costs

b. Actual Costs + Standard Costs

c. Actual Costs - (Actual Hours * Standard Rate)

d. Actual Costs - Standard Costs

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Answers (1)
  1. 28 August, 06:31
    0
    The correct answer is A.

    Explanation:

    The general formula is:

    Direct labor efficiency (time) variance = (Actual Quantity - Standard Quantity) * standard rate

    Note that none of the formulas provided matches the one I give you. But, with a small difference in the information, it can be adapted.

    Direct labor efficiency (time) variance = Actual Quantity * Standard Rate - SQ * Standard Rate

    If we are not provided with the Standard Quantity (SQ), but the total standard cost the formula is:

    Direct labor efficiency (time) variance = (Actual Quantity * Standard Rate) - Standard cost

    Therefore, the correct answer is A.
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Home » Business » The formula to the compute direct labor time variance is to calculate the difference between a. (Actual Hours * Standard Rate) - Standard Costs b. Actual Costs + Standard Costs c. Actual Costs - (Actual Hours * Standard Rate) d.
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