Brianna budgeted that she would use 2,300 labour hours in her department at an hourly rate of $10 per hour. However, the accounting records show 2,800 hours at $11 per hour. What is the labour cost variance? Do not enter dollar signs or commas in the input boxes. Round your answer to the nearest whole number. Labour Cost Variance $ Unfavourable ♦
Brianna budgeted that she would use 2,300 labour hours in her department at an hourly rate of $10 per hour. However, the accounting records show 2,800 hours at $11 per hour. What is the labour cost variance? Do not enter dollar signs or commas in the input boxes. Round your answer to the nearest whole number. Labour Cost Variance $ Unfavourable ♦
Chapter1: Financial Statements And Business Decisions
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Transcribed Image Text:Brianna budgeted that she would use 2,300 labour hours in her department at an hourly rate of $10 per hour. However, the accounting records show 2,800
hours at $11 per hour. What is the labour cost variance?
Do not enter dollar signs or commas in the input boxes.
Round your answer to the nearest whole number.
Labour Cost Variance $
Unfavourable
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