1. If the actual quantity of direct materials used in producing a commodity differs from the standard quantity, the variance is termed:
   1. rate variance
   2. controllable variance
   3. price variance
   4. quantity variance
   5. purchasing variance
2. If the price paid per unit differs from the standard price per unit for direct materials, the variance is termed:
   1. Volume variance
   2. variable variance
   3. controllable variance
   4. quantity variance
   5. price variance
3. If the wage rate paid per hour differs from the standard wage rate per hour for direct labor, the variance is termed:
   1. volume variance
   2. variable variance
   3. rate variance
   4. quantity variance
   5. controllable variance
4. If the actual direct labors hours spent producing a commodity differs from the standard hours, the variance is termed:
   1. rate variance
   2. time variance
   3. price variance
   4. quantity variance
   5. uncontrollable variance.
5. The following data relate to direct labor costs for the current period:

Standard costs 6,000 hours at $12.00

Actual costs 7,500 hours at $11.60

What is direct labor time variance?

1. $2,400 favorable
2. $3,000 favorable
3. $15,000 unfavorable
4. $17,400 unfavorable
5. $18,000 unfavorable