A company has 4,000 staff at the start of 20X6 and at the end this had reduced to 3,800 due to redundancies being made. 210 staff took voluntary redundancy which was 10 more than the company had anticipated and these 10 employees were replaced. What is the labour turnover rate per year?
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
A company has 4,000 staff at the start of 20X6 and at the end this had reduced to 3,800 due to
redundancies being made. 210 staff took voluntary redundancy which was 10 more than the company
had anticipated and these 10 employees were replaced.
What is the labour turnover rate per year?
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