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If during a hominin fossil excavation, you discovered a full skeleton of what your hunch told you is a transitionary species between Australopithecus and Homo, what kinds of characteristics would you look for to confirm your hunch?
Variable Overhead Rate Variance
The difference between the actual variable overheads incurred and the expected variable overheads based on standard rates.
Labor Rate Variance
The difference between the actual labor rate paid and the standard rate expected, multiplied by the total hours worked.
Labor Efficiency Variance
The variance between the real hours spent producing a good or service and the anticipated standard hours, times the standard wage rate.
Variable Overhead Rate Variance
The difference between the actual variable overhead costs incurred and the standard variable overhead expected for the actual production achieved.
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