Asked by stephan vailes on Apr 24, 2024
Verified
The labor efficiency variance is labeled favorable (F) if the actual hours used is less than the standard hours allowed for the actual output.
Labor Efficiency Variance
The difference between the expected amount of labor hours to complete a task and the actual hours used, indicating efficiency in labor use.
- Familiarize oneself with the concept of labor efficiency variance and its repercussions on the cost estimation of jobs.
Verified Answer
SB
Serinity Banks5 days ago
Final Answer :
True
Explanation :
This is the definition of a favorable labor efficiency variance.
Learning Objectives
- Familiarize oneself with the concept of labor efficiency variance and its repercussions on the cost estimation of jobs.