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The formula used for calculation of labour rate variance is

A. Total standard labour cost of actual output - Total actual cost of actual output

B. (Standard rate per hour - Actual rate per hour) * Actual Hours

C. (Standard time - Actual time) * Standard rate per hour

D. Abnormal idle hours * Standard hourly rate

Related Questions on Management Accounting Test Questions

Time value of money indicates that

A. A unit of money obtained today is worth more than a unit of money obtained in future

B. A unit of money obtained today is worth less than a unit of money obtained in future

C. There is no difference in the value of money obtained today and tomorrow

D. None of the above