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When you write a method that throws a checked exception, you must:
Labor Rate Variance
The difference between the actual cost of labor and the expected (or standard) cost, used to assess efficiency and control payroll costs.
Labor Efficiency Variance
The difference between the actual labor hours used and the expected (standard) labor hours for the level of production, multiplied by the standard labor rate.
Direct Materials
The raw materials that can be directly attributed to the production of a product and are a part of the finished product.
Variable Overhead Rate Variance
The difference between the actual variable overhead incurred and the expected (standard) cost based on the actual level of activity.
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