Information relating to direct labor for the Newstead Company follow: 
The labor efficiency variance is:
Definitions:
Wages Payable
A liability account that records the amounts owed to employees for work that has been performed but not yet paid.
Biweekly Salaries
Compensation paid to employees on a two-week basis, typically resulting in 26 pay periods per year.
Fiscal Period
A specific time frame, such as a month, quarter, or year, used for financial accounting and reporting purposes.
Salary Expense
The total expense incurred by a company to compensate its employees on a salaried basis during a specific period.
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