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Idle time variance is a difference between budgeted hour for work and actual worked hours multiplied by the standard wage rate.

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14y ago
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6mo ago

Idle time variance is calculated by finding the difference between the actual idle time and the standard idle time, then multiplying the result by the standard rate for idle time. The formula is: Idle Time Variance = (Actual Idle Time - Standard Idle Time) x Standard Rate for Idle Time. This variance helps identify whether idle time was more or less than anticipated and its impact on costs.

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Q: How do you identify the idle time variance?
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