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Annapolis Company completes Job #601 which has a standard of 600 labor hours at a standard rate of $18.50 per hour. The job was completed in 550 hours and the average actual labor rate was $19.20 per hour. What is the labor rate variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.

Annapolis Company completes Job #601 which has a standard of 600 labor hours at a standard rate of $18.50 per hour. The job was completed in 550 hours and the average actual labor rate was $19.20 per hour. What is the labor rate variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 9DQ: At the end of the period, the factory overhead account has a credit balance of 10,000. (a) Is the...
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Annapolis Company completes Job #601 which has a standard of 600 labor hours at a standard rate of $18.50 per hour. The job was completed in 550 hours and the average actual labor rate was $19.20 per hour. What is the labor rate variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.
Transcribed Image Text:Annapolis Company completes Job #601 which has a standard of 600 labor hours at a standard rate of $18.50 per hour. The job was completed in 550 hours and the average actual labor rate was $19.20 per hour. What is the labor rate variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.
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