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The factor that distinguishes leadership from management is that
Direct Labor Standards
The expected labor time and cost that should be incurred under normal conditions to produce a unit of output.
Labor Rate Variance
The difference between the actual cost of direct labor and the estimated cost of direct labor at standard rates for the production achieved.
Labor Efficiency Variance
The difference between the actual hours worked to produce goods and the standard hours expected, multiplied by the standard labor rate, indicating efficiency in labor use.
Material Price Variance
The variance between the real price paid for materials and their anticipated (standard) price.
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