Bay view Enterprises completes Job #475, which has a standard of 800 labor hours at a standard rate of $20.00 per hour. The job was completed in 750 hours, and the average actual labor rate was $21.50 per hour. What is the labor rate variance? A negative number indicates a favourable variance, and a positive number indicates an unfavourable variance.

Bay view Enterprises completes Job #475, which has a standard of 800 labor hours at a standard rate of $20.00 per hour. The job was completed in 750 hours, and the average actual labor rate was $21.50 per hour. What is the labor rate variance? A negative number indicates a favourable variance, and a positive number indicates an unfavourable variance.

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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