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 ...

Labor price variance, or direct labor rate variance, measures the difference between the budgeted hourly rate and the actual rate you pay direct labor workers who directly manufacture your products.

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, ...