Examlex
Technology that is characterized by low initial costs and high operating costs is termed
Payroll
The total amount of wages, salaries, and other earnings paid by a business to its employees.
Labor Efficiency
The measure of the amount of work accomplished with a specific amount of labor input.
Labor Quantity Variance
The difference between the actual labor hours worked and the standard hours expected, multiplied by the standard labor rate.
Total Labor Variance
The difference between the actual labor costs incurred and the standard labor costs for the actual production achieved.
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