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Raymond Cattell's advocacy of eugenics was based on his belief in the importance of
Labour Rate Variance
The difference between the actual cost of labor and the budgeted cost, based on hours worked and the rates paid.
Standard Direct Labour Rate
refers to the pre-determined cost per hour for direct labor, used in budgeting and measuring labor cost efficiency.
Labour Efficiency Variance
The difference between the actual hours worked and the standard hours expected to produce a certain number of units, multiplied by the standard hourly wage rate.
Actual Direct Labour Rate
This measures the actual cost per hour of labor directly involved in the manufacturing process.
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