What is the labor efficiency variance? Annapolis Company completes job #601 which has astandard of 640 labor hours at a standard rate of $19.70per hour. The job was completed in 600 hours and theaverage actual labor rate was $19.70 per hour.What is the labor efficiency (quantity) variance?

Formula for Labor Efficiency Variance:Labor Efficiency Variance = (Standard Hours - Actual Hours) *…

Answered: Annapolis Company completes job #601…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 8EB: Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450...

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Annapolis Company completes job #601 which has a standard of 640 labor hours at a standard rate of $19.70 per hour. The job was completed in 600 hours and the average actual labor rate was $19.70 per hour. What is the labor efficiency (quantity) variance?