Variation in labor rates = (Standard Rate - Actual Rate) * Real Hours
An unfavorable rate variance will occur if the real rate is higher than the standard rate. It indicates that labor was employed at a price that was more than anticipated.
Labor productivity variation = (Standard Hours - Actual Hours) * Regular Rate
Actual hours that are longer than the recommended number will have a negative impact on labor productivity. It indicates inefficient utilization of labor.
In addition to listing advertising rates, editorial or programming content, circulation, and other statistics for a range of advertising media, including radio, television, newspapers, and magazines, SRDS also offers media rates and data for the advertising sector.
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