Examlex
Discuss the household decisions roles and give an example of each.
Labour Efficiency Variance
The difference between the actual labor hours used and the standard labor hours expected for the level of production achieved, often indicating productivity levels.
Variable Overhead
Costs that vary with the level of production output, such as utilities for a manufacturing plant, which increase with more production.
Labour Rate Variance
The difference between the actual cost of labor and its expected cost based on standards set for production.
Labour Efficiency Variance
The difference between the actual labor hours used in production and the standard hours expected, multiplied by the standard labor rate.
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