Total Labour cost variance ........

Costing - Phase (I & II) Lean System and Innovation

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Total Labour cost variance =

Standard cost of labour - actual cost of labour

Standard rate(standard time for actual output-actual time worked)

Standard rate (standard time for actual output- actual time paid for)

Actual time taken (standard rate-actual rate)

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Explanation:

In variance analysis (accounting) direct material total variance is the difference between the actual cost of actual number of units produced and its budgeted cost in terms of material. The direct material price variance, the direct material usage variance.