Question

the labour cost variance may be expresses s​

Answer 1

Answer:

The correct answer of this question is Labour Cost Variance = Standard Cost of Labour – Actual Cost of Labour.

Explanation:

Given - The labour cost variance.

To Find  - Write the labour cost variance may be expresses .

The labour cost variance - The difference between the standard labour costs and the actual labour costs for the finished product .

It's the difference between the standard cost of labour allowed (according to the standard) for the actual output produced and the actual cost of labour used. It's also known as wage disparity. This difference is written as:... Labor Cost Variance = Standard Labor Cost – Actual Labor Cost.

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Answer 2

Answer:

It is the difference between the Standard labour costs and the actual labour costs for the production achieved.

Explanation:

Labour Cost Variance:

It is the difference between the standard cost of labour allowed (as per the standard laid down) for the actual output achieved and the actual cost of labour employed. It is also known as wage variance.

Total Labour Efficiency Variance:

It is that part of labour cost variance which arises due to the difference between standard labour cost of standard time for actual output and standard cost of actual time paid for.

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