12 years ago 12 years ago

Labour Idle Time Variance (LITV)

by BMS Team 12 years ago12 years ago

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Labour Idle Time Variance (LITV)

This is that the portion of labour cost variance which is due to the abnormal idle time of workers on account of failure of power supply, machine break – down, shortage of materials etc.

LITV = IH * SR (Idle hours * standard rate per hour)

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Labour Idle Time Variance (LITV)

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