Burlington Manufacturing completes Job # 305 which has a standard of 800 labor hours at a standard rate of $22.50 per hour. The job was completed in 750 hours and the average actual labor rate was $21.80 per hour. What is the labor rate variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.

Burlington Manufacturing completes Job # 305 which has a standard of 800 labor hours at a standard rate of $22.50 per hour. The job was completed in 750 hours and the average actual labor rate was $21.80 per hour. What is the labor rate variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable 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...

See similar textbooks

Similar questions

Recompute the variances from the second Acme Inc. exercise using $0.0725 as the standard cost of the material and $14 as the standard labor cost per hour. How has your explanation of the variances changed?
Can you answer this accounting question?
Annapolis Company completes Job #601 which has a standard of 650 labor hours at a standard rate of $19 per hour. The job was completed in 650 hours and the average actual labor rate was $18.10 per hour. What is the labor efficiency (quantity) variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.
Need help
Annapolis Company completes job #601 which has a standard of 520 labor hours at a standard rate of $18.70 per hour. The job was completed in 630 hours and the average actual labor rate was $18.80 per hour. What is the labor rate variance? (A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.)
Annapolis
What is the labor efficiency variance?
West Company completes Job 107 which has a standard of 600 labor hours at a standard rate of $19.10 per hour. The job was completed in 873 hours and the average actual labor rate was $21.35 per hour. What is the labor rate variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable variance. Please help
Provide answer this financial accounting question
Don't want wrong answer
Basix Inc. calculates direct manufacturing labor variances and has the following information: 1. Actual hours worked: 200 2. Standard hours allowed for actual output: 250 3. Actual rate per hour: $12 4. Standard rate per hour: $10 Given the information above, which of the following is correct regarding direct manufacturing labor variances? A. The price and efficiency variances are unfavorable. B. The price variance is favorable, while the efficiency variance is unfavorable. C. The price and efficiency variances are favorable. D. The price variance is unfavorable, while the efficiency variance is favorable.
Variance