Big dictionary of business and management. 2014.
standard direct labour cost — In standard costing, a standard cost derived from the standard time allowed for the performance of an operation and the standard direct labour rate for the operators specified for that operation … Accounting dictionary
standard direct labour cost — /ˌstændəd dɪˌrekt leɪbə kɒst/ noun the cost of labour calculated to produce a product according to specification (used to measure estimates) … Dictionary of banking and finance
Direct labour cost variance — is the difference between the standard cost for actual production and the actual cost in production.[1] There are two kinds of labour variances. Labour Rate Variance is the difference between the standard cost and the actual cost paid for the… … Wikipedia
direct labour efficiency variance — In a standard costing system, a variance arising as part of the direct labour total cost variance. It compares the actual labour time taken to carry out an activity with the standard time allowed and values the difference at the standard direct… … Accounting dictionary
direct labour total cost variance — 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… … Accounting dictionary
direct labour rate of pay variance — In a standard costing system, a variance arising as part of the direct labour total cost variance. It compares the actual rate paid to direct labour for an activity with the standard rate of pay allowed for that activity for the actual hours… … Accounting dictionary
total standard production cost — In standard costing, the total of standard direct materials cost, standard direct labour cost, the standard fixed overhead cost, and the standard variable overhead cost … Big dictionary of business and management
total standard production cost — The total of standard direct materials cost, standard direct labour cost, the standard fixed overhead cost, and the standard variable overhead cost … Accounting dictionary
performance standard — In standard costing, the standard level of performance to be achieved during a period. For example, a standard performance for direct labour of two standard hours to complete a task would be combined with the rate per standard hour for labour to… … Accounting dictionary
performance standard — In standard costing, the standard level of performance to be achieved during a period. For example, a standard performance for direct labour of two standard hours to complete a task would be combined with the rate per standard hour for labour to… … Big dictionary of business and management
