📊 Management Accounting
Q. The formula used for calculation of labor 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
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✅ Correct Answer: (B) (Standard rate per hour - Actual rate per hour) * Actual Hours

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