The Formula to Compute the Direct Labor Rate Variance Is

question 59

Multiple Choice

The formula to compute the direct labor rate variance is to calculate the difference between

• A) Actual costs + (Actual hours × Standard rate)
• B) Actual costs - Standard cost
• C) (Actual hours × Standard rate)- Standard costs
• D) Actual costs - (Actual hours × Standard rate)

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Definitions:

Workforce Scheduling

The process of assigning employees to specific jobs, tasks, or shifts in a way that optimizes the use of labor resources to meet service needs or production goals.

HR Planning Software

Digital tools designed to assist in the process of recruiting, tracking, and managing employees, facilitating various human resources tasks.

Forecasting Overhead

The process of estimating future overhead costs of a business, which are not directly tied to a specific business activity but are necessary for the business to operate.

Staffing Requirements

The specific needs a company has for hiring employees, including the number and type of workers needed to fulfill business objectives.