Labor variance occurs when the projected or budgeted amount of cost of labor is either lower or higher than estimated. Labor variances happen for a variety of reasons, explains AccountingTools.com.

When manufacturing products, a business should budget the time and necessary manpower to produce the products. This allows the company to estimate the total costs associated with the production of the ...

CHICAGO, IL - JUNE 04: Employees work the counter at a McDonald's restaurant located inside the company's new corporate headquarters on June 4, 2018 in Chicago, Illinois. McDonald's headquarters ...

Sheep farmers have been challenged to limit their annual labour input to two hours a ewe by advisers who have noted huge variation in farm labour efficiency. This would mean a labour cost of £30 a ewe ...

Land-holding farmers who engage in non-farming activity tend to improve labour efficiency on their farms, a recent study has found. The study aimed to understand the impact of multiple job holding on ...