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.

Direct labor standard price lets you estimate your direct labor costs for production or services according to the Corporate Finance Institute. This lets you know how many employees you need to ...

This is a preview. Log in through your library . Abstract Using a field study approach, we examine two competing perspectives on direct labor variance reporting: some argue that direct labor variance ...

Jonathan Ponciano is a financial journalist with nearly a decade of experience covering markets, technology, and entrepreneurship. Suzanne is a content marketer, writer, and fact-checker. She holds a ...