What Is Labor Rate Variance?

1.	What Is Labor Rate Variance?
Answer» Labor RATE VARIANCE: The actual price PAID for the direct labor USED in the production process, minus its standard cost, multiplied by the number of units used. Labor rate variance: The actual price paid for the direct labor used in the production process, minus its standard cost, multiplied by the number of units used.

Answer»

Labor RATE VARIANCE: The actual price PAID for the direct labor USED in the production process, minus its standard cost, multiplied by the number of units used.

Labor rate variance: The actual price paid for the direct labor used in the production process, minus its standard cost, multiplied by the number of units used.

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What Is Labor Rate Variance?

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