[Solved] The Child Online Protection Act was an attempt to protect children from online pornography while preserving the rights of adults. Direct Labor Rate Variances: The difference between the expected cost of direct labor per unit of production and the actual cost incurred. Work in Process: Partially finished goods that are still in the production process at a specific point in time. Current Period: The current period in accounting refers to the most recent or ongoing accounting period, for which financial activities and transactions are being recorded and analyzed. Labor Cost Variance: The difference between the actual labor costs incurred and the standard or expected labor costs for a given period.