Examlex
Which of the following can result from a fall?
Direct Labor Rate Variance
The difference between the actual cost of direct labor and the expected (or standard) cost, calculated for a specific period.
Total Cost Variance
This refers to the difference between the budgeted or standard cost of production and the actual cost incurred.
Factory Overhead Cost
All indirect costs associated with manufacturing, excluding direct materials and direct labor. These can include utilities, maintenance, and salaries of non-direct labor employees.
Variance Report
A document that compares actual financial performance to planned or budgeted performance, highlighting variances between these figures.
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