Examlex
Which of these activities is most directly associated with the employment phase of the staffing process?
Labour Rate Variance
The difference between the actual labor costs and the standard (expected) labor costs for a given period.
Actual Direct Labour Rate
The real wage rate paid for the hours that direct laborers work, differing from initially estimated or standard rates.
Standard Direct Labour Rate
The pre-established amount paid per unit of work or hour of labor to employees directly involved in manufacturing.
Materials Price Variance
A financial metric measuring the deviation between the budgeted or standard cost of materials and the actual cost incurred.
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