Greenwood Industries manufactures a product with direct labor standards of 0.8 hours per unit and $25 per hour. In March, the company produced 5,600 units using 4,400 direct labor-hours. The actual direct labor cost was $110,000. What is the labor efficiency variance for March?

Greenwood Industries manufactures a product with direct labor standards of 0.8 hours per unit and $25 per hour. In March, the company produced 5,600 units using 4,400 direct labor-hours. The actual direct labor cost was $110,000. What is the labor efficiency variance for March?

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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Question

What is the labor efficiency variance for March on these general accounting question?

Greenwood Industries manufactures a product with direct labor
standards of 0.8 hours per unit and $25 per hour. In March, the
company produced 5,600 units using 4,400 direct labor-hours.
The actual direct labor cost was $110,000.
What is the labor efficiency variance for March?

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