Economics · Cost Accounting
Match the variance type in List I with its description in List II. List I: A. Material Price Variance B. Material Usage Variance C. Labour Rate Variance D. Labour Efficiency Variance List II: I. Difference between actual and standard labour rate II. Difference due to excess or less quantity of material used III. Difference between actual price paid and standard price IV. Difference due to variation in labour time used
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A–I, B–II, C–III, D–IV
- 2A–II, B–III, C–IV, D–I
- 3A–III, B–II, C–I, D–IV✓
- 4A–III, B–I, C–II, D–IV
Correct answer
A–III, B–II, C–I, D–IV
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