Asked by
Samarah Foster
on Nov 12, 2024
Verified
The production manager is usually held responsible for the labour efficiency variance.
Labour Efficiency Variance
A measure used in cost accounting to evaluate the difference between the actual hours worked and the standard hours expected to produce a certain level of output.
Production Manager
The person responsible for overseeing the production process and ensuring that manufacturing runs smoothly and efficiently.
- Review the effectiveness of standard costing in managerial decision-making and control activities.
Verified Answer
PS
Learning Objectives
- Review the effectiveness of standard costing in managerial decision-making and control activities.