Labour Cost Variance in Financial Formulas

Labour Cost Variance is the difference between the expected cost of labour and the actual cost of labour. And is denoted by LCV.

Formulas to find Labour Cost Variance in Financial

fxLabour Cost VarianceGo

fx Standard Hours for Actual Output Go

fx Standard Rate Go

fx Actual Hours Go

fx Actual Rate Go

What is the Labour Cost Variance?

Labour Cost Variance is the difference between the expected cost of labour and the actual cost of labour.

Can the Labour Cost Variance be negative?

{YesorNo}, the Labour Cost Variance, measured in {OutputVariableMeasurementName} {CanorCannot} be negative.

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