Examlex
When a live radio broadcaster,overcome with emotion,cried out "Oh the humanity!" on the air in 1937,he was referring to the crash of the ________.
Actual Direct Labor Rate
The actual wage rate paid to workers, as opposed to the expected or standard rate used in budgeting or costing.
Direct Labor-hours
The total hours of labor directly involved in the manufacturing process of a product.
Labor Rate Variance
It is the difference between the actual cost of labor and the budgeted or expected cost of labor.
Standard Cost System
A standard cost system is a method of cost accounting that uses estimated costs for materials, labor, and overheads to compare against actual costs incurred, facilitating variance analysis and budgeting.
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