Examlex
In his work with companies, Henry Gantt found that workers achieved their best performance levels if they were trained first.
Direct Labor
The labor costs directly tied to the production of goods or services, such as wages for employees on the production line.
Direct Labor Rate Variance
The difference between the actual cost of labor per hour and the standard cost, multiplied by the total hours worked, used to assess labor cost management.
Standard Hours
Standard hours refer to the set amount of time expected to complete a task or job based on efficiency standards.
Work in Process Inventory
Represents goods that are partially completed in the manufacturing process, not yet ready for sale.
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