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direct labour total cost variance


'direct labour total cost variance' can also refer to...

 

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The combination of the direct labour rate of pay variance and the direct labour efficiency variance; it compares the actual cost and the standard cost of the direct labour incurred in carrying out the actual production. The formula for this variance is:(standard rate per hour × actual hours worked) – actual labour cost.

(standard rate per hour × actual hours worked) – actual labour cost.

Subjects: Accounting.


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