Accounting Multiple Choice Question – 23 April 2021

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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Budgeted and actual labour costs for making a product are given.

What is the labour efficiency  variance?

Select ONE answer:

  1. £1,620 adverse
  2. £1,620 favourable
  3. £1,650 adverse
  4. £1,650 favourable

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

  1. Correct ==> £19,530 / 1,240 = £15.75 ==> £0.25 * 1,240 = £310 ADV
  2. Not correct
  3. Not correct
  4. Not correct

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