Yes you can, as soon as you don't mix currency and hours and not mixing hours scheduled for Equipments and Human Resources.
The Budgeted hour can be used to perform the index such us (CPI, SPI).
An activitiy name= Excavation of an hole - Duration 2 days (16h)
Planned Resources = 1 Excavator, 2 Helpers, 1 Operator)
Total (PV) = 3x8x2=48hous (HR) and 2x8=16Hours Equipment.
This baseline per Hours must be approved upfront assuming that for all completed works the EV will be equal to PV.
AC= 1 Excavator, 1 Helpers, 1 Operator)
As per timesheets 30hours HR and 15 Equipment
EV=PV=48 hours planned.
CPI= 48/30 = 1.6 , SPI=1,07 For Human Resources.
CPI= 16/15 = 1.07, SPI =1,07 For Equipments. Saving Changes...