Eagle Crafts produces custom furniture. It takes 3 hours of direct labor to produce each piece. Eagle's standard labor cost is $15 per hour. During July, Eagle produced 8,000 pieces and used 24,500 hours of direct labor at a total cost of $370,000. What is Eagle Crafts' labor rate variance for July?

Eagle Crafts produces custom furniture. It takes 3 hours of direct labor to produce each piece. Eagle's standard labor cost is $15 per hour. During July, Eagle produced 8,000 pieces and used 24,500 hours of direct labor at a total cost of $370,000. What is Eagle Crafts' labor rate variance for July?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 7PB: Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid...

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