Standard and actual costs for direct labor for the manufacture of 1,000 units of product were as follows: Determine the direct labor (a) time variance, (b) rate variance, and (c) total cost variance.

Direct Labor Time Variance

The difference between the estimated time to complete a task and the actual time taken, affecting cost management in manufacturing.

Direct Labor Rate Variance

The difference between the actual cost of direct labor and the expected (or standard) cost, calculated for a specific period.

Total Cost Variance

This refers to the difference between the budgeted or standard cost of production and the actual cost incurred.