Examlex
Every issue of Taste of Home magazine features two or three entrepreneurs who have turned some skill or other resource into a successful small business. Since these featured businesses do not pay for this exposure, they are benefiting from:
Labor Standards
Predetermined measures for the amount of labor time and cost expected for a certain task or production process.
Last Month Data
Information or statistics gathered in the previous month, often used in comparisons or forecasting.
Labor Efficiency Variance
The difference between the actual hours worked and the standard hours allowed for the actual production achieved, reflecting labor efficiency.
Direct Labor-hours
Direct Labor-hours represent the total time spent by workers directly involved in the manufacturing process or providing a service.
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