Which of the following should be part of the direct labor quantity standard?

Which of the following should be part of the direct labor quantity standard?

The direct labor quantity standard should include allowances for rest periods, cleanup, machine setup, and machine downtime. What is the difference between a favorable cost variance and an unfavorable cost variance?

What is a quantity standard?

1. Quantity standards. Quantity standards indicate how much of an input, such as labor time or raw materials, should be used in manufacturing a unit of product or in providing a unit of service. To measure performance, actual quantities used are compared to standard quantities allowed.

What is the direct labor rate variance quizlet?

Difference between the actual labor rate and the standard labor rate multiplied by the actual number of labor hours used. You just studied 28 terms!

What is the direct materials quantity variance quizlet?

A direct materials quantity standard generally includes an allowance for waste. The materials price variance is computed by multiplying the difference between the actual price and the standard price by the actual quantity of materials purchased.

What is direct labor standards?

Your direct labor standard price includes the basic hourly wage and the business portion of the Medicare and Social Security taxes you pay for each employee. The cost of employee fringe benefits such as vacation pay, holiday pay and medical leave are part of the direct labor standard price.

Which one of the following is a direct Labour cost?

Direct labor refers to the salaries and wages paid to workers that can be directly attributed to specific products or services. It includes the cost of regular working hours, overtime hours worked, payroll taxes, unemployment tax, Medicare, employment insurance, etc.

What is direct material standard?

Direct Materials Quantity Standards: Standard quantity per unit of direct materials is the amount of direct materials or raw materials that should be required to complete a single unit of product, including allowances for normal waste, spoilage, rejects, and similar inefficiencies.

What is quantity standard and what is price standard?

What is a price standard? A quantity standard is the amount of materials that should be used in the production of a single unit. Price standard is the price that should be paid for materials at a given level of activity.

What is the standard quantity allowed for production?

Definition of standard quantity allowed amount of materials that should have been used to manufacture units of output during a period. It is obtained by multiplying actual units of production by the standard material quantity per unit.