Labour Variances
Labour Cost Variance
Labour Cost Variance = Standard Cost – Actual Cost
Or
Labour Cost Variance = [(SH x SR) – (AH x AR)]
Labour Cost Variance = Labour Rate variance + Labour Ideal Time Variance + Labour Efficiency Variance
Labour Rate Variance
Labour Rate Variance = Standard Cost of Actual Time – Actual Cost
Or
Labour Rate variance = [(SR – AR) x AH]
Or
Labour Rate Variance = [(SR x AR) – (AR x AH)]
Ideal Time Variance
Ideal Time Variance = Standard Rate per Hour x Ideal Hour
Labour Efficiency Variance
Labour Efficiency Variance = Standard Cost of Standard Time for Actual Production – Standard Cost of Actual Time
Or
Labour Efficiency Variance = [(SH – AH) x SR]
Or
Labour Efficiency Variance = [(SH x SR) – (AH x SR)]
Labour Efficiency Variance = Labour Mix Variance + Labour Yield Variance
Labour Mix Variance (Gang Variance)
Labour Mix Variance = Standard Cost of Actual Time worked in Standard Proportion – Standard Cost of Actual Time Worked
Or
Labour Mix Variance = [(RSH – AH)] x SR]
Or
Labour Mix Variance = [(RSH x SR) – (AH x SR)]
Labour Yield Variance (Sub – Efficiency Variance)
Labour Yield variance = Standard Cost of Standard Time for Actual Production – Standard Cost of Actual Time worked in Standard Production
Or
Labour Yield Variance = [(SH – RSH) x SR]
Or
Labour Yield Variance = [(SH x SR) – (RSH x SR)]
Where,
SH = Standard Hours (Expected Time for Actual Output)
SR = Standard Rate
AH = Actual Hour
AR = Actual Rate
RSH = Actual Time worked in Proportion of Standard Time
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Labour Cost Variance
Labour Cost Variance = Standard Cost – Actual Cost
Or
Labour Cost Variance = [(SH x SR) – (AH x AR)]
Labour Cost Variance = Labour Rate variance + Labour Ideal Time Variance + Labour Efficiency Variance
Labour Rate Variance
Labour Rate Variance = Standard Cost of Actual Time – Actual Cost
Or
Labour Rate variance = [(SR – AR) x AH]
Or
Labour Rate Variance = [(SR x AR) – (AR x AH)]
Ideal Time Variance
Ideal Time Variance = Standard Rate per Hour x Ideal Hour
Labour Efficiency Variance
Labour Efficiency Variance = Standard Cost of Standard Time for Actual Production – Standard Cost of Actual Time
Or
Labour Efficiency Variance = [(SH – AH) x SR]
Or
Labour Efficiency Variance = [(SH x SR) – (AH x SR)]
Labour Efficiency Variance = Labour Mix Variance + Labour Yield Variance
Labour Mix Variance (Gang Variance)
Labour Mix Variance = Standard Cost of Actual Time worked in Standard Proportion – Standard Cost of Actual Time Worked
Or
Labour Mix Variance = [(RSH – AH)] x SR]
Or
Labour Mix Variance = [(RSH x SR) – (AH x SR)]
Labour Yield Variance (Sub – Efficiency Variance)
Labour Yield variance = Standard Cost of Standard Time for Actual Production – Standard Cost of Actual Time worked in Standard Production
Or
Labour Yield Variance = [(SH – RSH) x SR]
Or
Labour Yield Variance = [(SH x SR) – (RSH x SR)]
Where,
SH = Standard Hours (Expected Time for Actual Output)
SR = Standard Rate
AH = Actual Hour
AR = Actual Rate
RSH = Actual Time worked in Proportion of Standard Time
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