Labor Efficiency Variance
Jump to navigation
Jump to search
Description
The difference between the actual hours taken to complete a task and the standard hours allowed for the actual output, multiplied by the standard hourly labor rate.
Concept Prerequisite
Wikipedia Reference
http://en.wikipedia.org/wiki/Direct labour cost variance#Labor Efficiency Variance
Learning Material
Covered in Topic(s)
Standard Costs and the Balanced Scorecard |