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 ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

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, ...