List I | List II | ||
A. | Labour cost variance | 1. | Actual hours paid (Standard rate - Actual rate) |
B. | Labour rate variance | 2. | Standard cost - Actual cost |
C. | Efficiency variance | 3. | Idle hours \[\times \] standard rate per hour |
D. | Idle time variance | 4. | Standard rate (Standard hours - Actual hours worked) |
A) A\[\to \]4, B\[\to \]3, C\[\to \]2, D\[\to \]1
B) A\[\to \]2, B\[\to \]3, C\[\to \]4, D\[\to \]1
C) A\[\to \]4, B\[\to \]1, C\[\to \]2, D\[\to \]3
D) A\[\to \]2, B\[\to \]1, C\[\to \]4, D\[\to \]3
Correct Answer: D
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