BoxRUS (BRU) produces oblong box products. The company expects to pay $37.10 per hour fo their direct labor. BRU's workforce worked 2,715.30 hours during the month of July and was p $36.00 per hour. A standard of 2.60 hours of direct labor is expected to be used for each oblom box product produced. Even though BRU expected to produce,962 finished produced, they actually produced 1,025 finished oblong box products during the month of July. Round your final answers to the nearest whole dollar/input code: 0 • Enter a favorable variance as a positive number (no sign needed) • Enter an unfavorable variances as a negative number (minus sign in front of the digits) How much is the Rate Variance? $ How much is the Efficiency/Time Variance? $
BoxRUS (BRU) produces oblong box products. The company expects to pay $37.10 per hour fo their direct labor. BRU's workforce worked 2,715.30 hours during the month of July and was p $36.00 per hour. A standard of 2.60 hours of direct labor is expected to be used for each oblom box product produced. Even though BRU expected to produce,962 finished produced, they actually produced 1,025 finished oblong box products during the month of July. Round your final answers to the nearest whole dollar/input code: 0 • Enter a favorable variance as a positive number (no sign needed) • Enter an unfavorable variances as a negative number (minus sign in front of the digits) How much is the Rate Variance? $ How much is the Efficiency/Time Variance? $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:BoxRUS (BRU) produces oblong box products. The company expects to pay $37.10 per hour for
their direct labor. BRU's workforce worked 2,715.30 hours during the month of July and was paid
$36.00 per hour. A standard of 2.60 hours of direct labor is expected to be used for each oblong
box product produced. Even though BRU expected to produce,962 finished produced, they
actually produced 1,025 finished oblong box products during the month of July.
Round your final answers to the nearest whole dollar/input code: 0
• Enter a favorable variance as a positive number (no sign needed)
• Enter an unfavorable variances as a negative number (minus sign in front of the digits)
How much is the Rate Variance? $
How much is the Efficiency/Time Variance? $
Expert Solution
Step 1: Introduce
The variance is the difference between the actual and standard cost of production data. The variance can be classified as Favorable or Unfavorable on the basis of the difference between the costs.
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