Examlex
What is the definition of productivity?
Direct Labor-Hours
The entire sum of hours clocked by employees who are directly involved in product creation.
Labor Rate Variance
The difference between the actual cost of labor and the expected (or standard) cost.
Labor Standards
Benchmarks or criteria set for the amount of time and effort required to perform tasks efficiently and effectively.
Direct Labor-Hours
The total hours worked directly on the production of goods or provision of services, often used as a basis for assigning labor costs to products.
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