Examlex
In the evaluation of worker productivity
Rate Variance
The difference between the actual rate of expense or income and its expected (standard) rate, often used in variance analysis.
Direct Labor-Hours
The cumulative hours employees directly participating in the production process have worked.
Materials Price Variance
The difference between the actual cost of materials used in production and the expected (or standard) cost of materials.
Variable Manufacturing Overhead
Costs that vary in total in direct proportion to changes in the volume of production, such as indirect materials and utility costs directly tied to production.
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