Question: 5. When is the material quantity variance favorable? a. when the actual price paid is greater than the standard price b. when the actual quantity

5. When is the material quantity variance favorable?

a. when the actual price paid is greater than the standard price

b. when the actual quantity used is less than the standard quantity

c. when the actual price is less than the standard price

d. when tha actual quantity used is greater than the standard quantity

6. What are some possible reasons for a labor rate variance?

a. an excess of material usage

b. matrial price increase

c. hiring of less qualified workers

d. utilities usage change

7. When is the labor rate variance favorable?

a. when the actual price paid is greater than the standard price

b. when the actual quantity use is greater than the standard quantity

c. when the actual price is less than the standard price

8. When is the direct labor time variance favorable?

a. when the actual price is less than the standard price

b. when the actual price paid is greater than the standard price

c. when the actual quantity used is greater than the standard quantity

d. when the actual quantity used is less than the standard quantity

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