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The difference between actual hours times the actual pay rate and actual hours times the standard pay rate is the labor _________________ variance.
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The difference between actual hours times the actual pay rate and actual hours times the standard pay rate is the labor _________________ variance.

User ResponsiblyUnranked
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Answer:

"Labor price variance " is the correct choice.

Step-by-step explanation:

  • The variation throughout the labor rate represents the distance between real as well as anticipated labor costs. These were measured by taking the difference, based upon the number of additional hourly wages, between some of the real labor amount charged as well as the minimum amount.
  • Absolute variation in the labor rate is equivalent to absolute variation in the price of the commodity.
User KARTHIK BHAT
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