Examlex
What property of real numbers allows us to write a(b + c) = a(c + b) ?
Direct Labor-hours
The total hours worked by employees directly involved in the production process, used as a basis for allocating labor costs to products or services.
Variable Overhead Rate Variance
The difference between the actual variable overhead cost incurred and the expected (standard) cost, based on the actual level of activity.
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.
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