Labor variance occurs when the projected or budgeted amount of cost of labor is either lower or higher than estimated. Labor variances happen for a variety of reasons, explains AccountingTools.com.

Discover how to calculate productivity by comparing business outputs to inputs. Learn about methods and techniques to enhance ...

Businesses large and small incur costs for materials and labor for all goods or services produced. Adequately controlling labor costs is essential to achieving profitability goals. Effective ...

Direct labor rates are the labor costs directly resulting in the production of a product or delivery of a service. These costs include wages as well as payroll taxes, insurance, retirement matches, ...