Asked by Matias Morales on May 11, 2024
Verified
The difference between actual hours times the actual pay rate and actual hours times the standard pay rate is the labor _________________ variance.
Labor Rate Variance
Labor Rate Variance is the difference between the actual cost of labor and the standard cost, based on the hours worked.
- Compute and examine discrepancies in direct labor, focusing on both labor cost and volume variances.
Verified Answer
VJ
Learning Objectives
- Compute and examine discrepancies in direct labor, focusing on both labor cost and volume variances.
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