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Baltimore Enterprises completes Job #204, which has a standard of 450 labor hours at a standard rate of $20.50 per hour. The job was completed in 510 hours, and the average actual labor rate was $21.10 per hour. Calculate the labor rate variance. (A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.)

Baltimore Enterprises completes Job #204, which has a standard of 450 labor hours at a standard rate of $20.50 per hour. The job was completed in 510 hours, and the average actual labor rate was $21.10 per hour. Calculate the labor rate variance. (A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Baltimore Enterprises completes Job #204, which has a standard of 450 labor hours at a standard rate of $20.50 per hour. The job was completed in 510 hours, and the average actual labor rate was $21.10 per hour. Calculate the labor rate variance. (A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.)
Transcribed Image Text:Baltimore Enterprises completes Job #204, which has a standard of 450 labor hours at a standard rate of $20.50 per hour. The job was completed in 510 hours, and the average actual labor rate was $21.10 per hour. Calculate the labor rate variance. (A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.)
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