MCQOPTIONS
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| 1. |
Total Labour cost variance = |
| A. | Standard cost of labour - actual cost of labour |
| B. | Standard rate(standard time for actual output-actual time worked) |
| C. | Standard rate (standard time for actual output- actual time paid for) |
| D. | Actual time taken (standard rate-actual rate) |
| Answer» B. Standard rate(standard time for actual output-actual time worked) | |