DIRECT LABOR RATE VARIANCE Definition

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DIRECT LABOR RATE VARIANCE reveals the difference between the standard rate and actual rate for the actual labor hours worked [(standard rate - actual rate) X actual hours].

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TRIAL BALANCE is a listing of the accounts in your general ledger and their balances as of a specified date. A trial balance is usually prepared at the end of an accounting period and is used to see if additional adjustments are required to any of the balances. Since the basic accounting system relies on double-entry bookkeeping, a trial balance will have the same total debit amount as it has total credit amounts.

ACTIVE MANAGEMENT, in securities, is the trading of securities to take advantage of market opportunities as they occur, in contrast to a buy-and-hold strategy.

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