standard rate of pay

A predetermined rate of pay set for each classification of labour for a period. These rates are compared with the actual rates paid during the period in order to establish direct labour rate of pay variances in a system of standard costing

Accounting dictionary. 2014.

Look at other dictionaries:

  • standard rate of pay — A predetermined rate of pay set for each classification of labour for a period. These rates are compared with the actual rates paid during the period in order to establish direct labour rate of pay variances in a system of standard costing …   Big dictionary of business and management

  • standard rate — ➔ rate1 * * * standard rate UK US noun [C] UK ► (also standard rate of interest) BANKING, FINANCE the normal percentage amount that a bank charges customers for borrowing money: charge/pay a standard rate »Our discounted rate ended this year and… …   Financial and business terms

  • standard-rate — UK US noun [C] UK ► (also standard rate of interest) BANKING, FINANCE the normal percentage amount that a bank charges customers for borrowing money: charge/pay a standard rate »Our discounted rate ended this year and we have been paying the bank …   Financial and business terms

  • direct labour rate of pay variance — In a standard costing system, a variance arising as part of the direct labour total cost variance. It compares the actual rate paid to direct labour for an activity with the standard rate of pay allowed for that activity for the actual hours… …   Accounting dictionary

  • rate — The cost of debt service paid by a borrower or issuer to a lender or investor. The rate is expressed as an annual percentage of the amount borrowed. For some notes and bonds that pay interest semiannually, the semiannual interest due to the… …   Financial and business terms

  • rate — rate1 W1S1 [reıt] n ▬▬▬▬▬▬▬ 1¦(number)¦ 2¦(money)¦ 3¦(speed)¦ 4 at any rate 5 at this rate 6 first rate/second rate/third rate 7 at a rate of knots 8 rates ▬▬▬▬▬▬▬ [Date: 1400 1500; …   Dictionary of contemporary English

  • rate — {{Roman}}I.{{/Roman}} noun 1 speed/frequency ADJECTIVE ▪ constant, expected, regular, steady, unchanged ▪ slow ▪ the slow rate of change …   Collocations dictionary

  • rate — I UK [reɪt] / US noun Word forms rate : singular rate plural rates *** 1) [countable] the number of times something happens, or the number of examples of something within a particular period of time a rising birth rate a dramatic fall in the city …   English dictionary

  • rate — rate1 [ reıt ] noun count *** 1. ) the number of times something happens, or the number of examples of something within a particular period of time: a rising birth rate a dramatic fall in the city s murder rate rate of: The animals were dying at… …   Usage of the words and phrases in modern English

  • rate*/*/*/ — [reɪt] noun [C] I 1) the number of times that something happens, or the number of examples of something within a particular period of time a rising birth rate[/ex] areas where the rate of unemployment is high[/ex] 2) the speed at which something… …   Dictionary for writing and speaking English

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