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What else can I help you with?
Is direct labor cost a period cost?
Direct labor is a product cost as it is required to manufacture the units of product, Direct Labor may be a period cost in that period where there is no production but management still paying the labor all salaries and wages.
What do you mean by labor cost variance?
Labor cost variance means the difference between standard labor cost and actual labor cost.
What are the two variances between the actual cost and the standard cost for direct labor?
The two variances between the actual cost and the standard cost for direct labor are the labor rate variance and the labor efficiency variance. The labor rate variance measures the difference between the actual hourly wage paid and the standard wage expected, multiplied by the actual hours worked. The labor efficiency variance assesses the difference between the actual hours worked and the standard hours allowed for the actual production, valued at the standard hourly rate. These variances help businesses analyze their labor costs and operational efficiency.
Will the direct labor price variance always be unfavorable if more hours are worked than the standard hours allowed for the actual output attained?
No, Direct labor price variance is created due to difference in standard labor rate and actual labor rate for example standard labor rate per unit is 10 and actual labor rate is 11 then 1 per unit is unfavourable direct labor price variance.
What is the Direct labor efficiency variance formula?
(actual time * standard rate) - (standard time * standard rate)
What is Labor Standard?
Labor Standard that which sets out the minimum terms conditions and benefits of employment that ER's must provide or comply with and to which EE's are entitled as a matter of legal right.
Do you want a higher or lower labor standard?
It is not clear what you mean by labor standard. If you are talking about standards that will take the US out of the running for manufacturing jobs and for international trade, then I do not want them.
What child labor laws came into affect during the Industrial Revolution?
Fair Labor Standard Act
What is the industry standard for restaurant labor?
the legal age is 16yrs
What is the period of conception before birth?
labor i believe
Can you be going in to labor with bad period pains in your stomach an back?
Yes, early labor can feel that way.
Why does the cost of labor go down in a recession?
During an economically depressed period, the labor supply usually exceeds the demand in the labor market, resulting in lower labor rates.
