Direct labor rate variance calculator

Actual rate per hour:
Standard rate per hour:
Actual hours worked:
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How to used direct labor rate variance calculator:

Inputs to be provided:

Actual rate per hour:
It is the actual hourly rate paid to labor.

Standard rate per hour:
It is the hourly rate determined at the time of setting standards.

Actual hours worked:
The number of hours actually worked during a particular period of time (the time for which the variance is to be calculated).

Outputs to be generated:

Direct labor rate variance:
The calculator processes the above three inputs and generates a favorable or unfavorable direct labor rate variance figure as output.