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Labor Efficiency
The measure of the amount of work accomplished with a specific amount of labor input.
Labor Quantity Variance
The difference between the actual labor hours worked and the standard hours expected, multiplied by the standard labor rate.
Total Labor Variance
The difference between the actual labor costs incurred and the standard labor costs for the actual production achieved.
Direct Labor Price Variance
The difference between the actual cost of direct labor and the expected (or standard) cost, based on the actual hours worked.
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