labor idle time variance

Definition

The difference between the number of hours budgeted for work and the number of paid hours not spent working (idle time). For example, if employees of a company were budgeted to make products for 8,000 hours, but only did work for 7,800 hours, then 200 hours were spent in idle time. This is often further calculated by multiplying the idle time by the wage rate. If the wage rate is $10/hour, then the idle time carried a cost of $2,000 (200 hours x $10/hour). See also direct labor efficiency variance.

单词	labor idle time variance
释义	labor idle time variance Definition The difference between the number of hours budgeted for work and the number of paid hours not spent working (idle time). For example, if employees of a company were budgeted to make products for 8,000 hours, but only did work for 7,800 hours, then 200 hours were spent in idle time. This is often further calculated by multiplying the idle time by the wage rate. If the wage rate is $10/hour, then the idle time carried a cost of $2,000 (200 hours x $10/hour). See also direct labor efficiency variance.
随便看	common paymaster common point common policy declarations common property common resource common-size balance sheet common-size financial statement common-size income statement common stock common stock account common stock dividend distributable common stock fund commonwealth communication communication channel communication fidelity communication process communications communications architecture communication skills communications objectives communications planning communications production services communiqué communism