ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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LABOR THROUGHPUT VARIANCE Definition
LABOR THROUGHPUT VARIANCE reveals potential constraints on throughput caused by changes in the mix of products being produced. It is computed the way the traditional labor "efficiency" variance is computed but aggregated at a fairly high level (e.g., total plant or total department) and expressed as percent of actual clocked production hours vs. standard production hours.
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TURNOVER, in U.S. accounting, is the number of times an asset is replaced during a financial period; often used in terms of inventory turnover or accounts receivable turnover. In securities, for either a portfolio or exchange, TURNOVER is the number of shares traded for a period as a percentage of the total shares. In Great Britain,
PER CAPITA INCOME is the mean income computed for every man, woman, and child in a particular group. It is derived by dividing the total income of a particular group by the total population in that group.