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What do you mean by labor cost variance?
Labor cost variance means the difference between standard labor cost and actual labor cost.
What is a labor ratio and what line items belong in it?
A labor ratio is the percentage of labor spent vs the amount of revenue earned. A labor ratio is the percentage of labor spent vs the amount of revenue earned.
240000 dollars were spent in a sales company 40 percent of it was on labor How many dollars were spent on labor?
Total amount spent = $ 240000 % to be spent on Labor = 40% Amount to be spent on labor = 240000 * (40/100) = 96000 The company will spend $96000 on Labor.
How do you compute predetermined overhead rate as a percentage of direct labor costs and direct labor hours?
Predetermined overhead rate based on direct labor cost = Budgeted overhead cost / direct labor cost / 100 Predetermined overhead rate based on direct labor cost = budgeted overhead cost / direct labor hours.
When was Bureau of Labor Statistics created?
Bureau of Labor Statistics was created in 1884.
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