Examlex
Inverted organizations empower employees by adding multiple layers of management and long lines of communication.
Labour Cost
The total expense incurred for hiring employees, including wages, benefits, and taxes.
Labour Efficiency Variance
A cost management tool used to measure the difference between the actual labor hours used and the standard labor hours expected to produce a certain level of output.
Direct Labour Standard
A benchmark for the amount of work (measured in labor hours or costs) expected to produce a certain quantity of goods.
Uncontrollable Costs
Costs that cannot be influenced or controlled by a manager under normal circumstances.
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