Examlex
What are the three components that a drill-down command can be run against to provide a more detailed analysis?
Labour Rate Variance
The difference between the actual labor costs incurred and the standard labor costs for the actual production level.
Actual Rate
The actual cost incurred or the price paid for materials, labor, or overhead as opposed to budgeted or standard costs.
Standard Rate
A predetermined cost that is often used in budgeting and costing exercises to estimate the expected rate for services or products.
Direct Labour
The cost associated with employees who are directly involved in the production process.
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