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ACC 349 Week 4 Individual Ch11 Q 2-11
This file ACC 349 Week 4 individual Ch11 Q 2 11 includes solutions to the following tasks:
1. (a) Explain the similarities and differences between standards and budgets.
2. (b) Contrast the accounting for standards and budgets.
3. In the direct labor variance matrix, there are three factors:
(1) Actual hour’s * Actual rate,
(2) Actual hour’s * Standard rate,
(3) Standard hour’s *Standard rate.
Using the numbers, indicate the formulas for each of the direct labor variances.