Asked by Jesse Francis on Apr 30, 2024
Verified
The direct labor time variance measures the efficiency of the direct labor force.
Time Variance
The difference between the expected time to complete a task and the actual time taken.
Direct Labor
The labor costs directly associated with the manufacturing of goods, specifically referring to the work of employees who physically produce the products.
Labor Force
The total number of people employed or seeking employment in a country or specific area.
- Determine and expound upon the variances in price and quantity for direct materials and labor, focusing on their computation and analysis.
Verified Answer
BC
Billy CruzeMay 07, 2024
Final Answer :
True
Explanation :
The direct labor time variance measures the difference between the actual time worked by the direct labor force and the expected time according to the standard set by the company. This variance is used to measure the efficiency of the direct labor force in terms of productivity and performance.
Learning Objectives
- Determine and expound upon the variances in price and quantity for direct materials and labor, focusing on their computation and analysis.
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