Answer:
Results are below.
Explanation:
Match each of the following formulas and phrases with the term it describes.
A) (Actual Direct Labor Hours - Standard Direct Labor Hours) × Standard Rate per Hour
This is the formula for Direct labor time (efficiency) variance
B) (Actual Rate per Hour - Standard Rate per Hour) × Actual Hours
This is the formula for Direct labor rate variance
C) (Actual Price - Standard Price) × Actual Quantity
This is the formula for Direct materials price variance
D) (Actual Quantity - Standard Quantity) × Standard Price
This is the formula for Direct materials quantity variance
E) Standard variable overhead for actual units produced
Budgeted variable factory overhead
