MANNING VARIANCE Definition

Bookmark and Share

MANNING VARIANCE is the difference between the amount of time that was expected to be worked at a machine-paced workcenter, based on the amount of receipts of the parent part, and the actual amount of labor hours recorded at the workcenter.

Learn new Accounting Terms

EFFECTIVE INTERNAL CONTROL is reasonable assurance that operational objectives are achieved, that published financial statements are reliably prepared, and that the entity complies with applicable laws and regulations.

OVERHEAD BUDGET shows the expected cost of all production costs other than direct materials and direct labor. Budgeted variable overhead costs are based on a budgeted variable overhead rate multiplied by budgeted activity. Budgeted fixed overhead costs remain unchanged as the activity level changes within the relevant range. See OPERATING BUDGET.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.