|Actual rate per hour:|
|Standard rate per hour:|
|Actual hours worked:|
Please like us on facebook
How to used direct labor rate variance calculator:
Inputs to be provided:
Actual rate per hour:
It is the actual hourly rate paid to labor.
Standard rate per hour:
It is the hourly rate determined at the time of setting standards.
Actual hours worked:
The number of hours actually worked during a particular period of time (the time for which the variance is to be calculated).
Outputs to be generated:
Direct labor rate variance:
The calculator processes the above three inputs and generates a favorable or unfavorable direct labor rate variance figure as output.