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Johnson Co. makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard labor to count and assemble each packet is 0.05 hours at a cost of $18.00 per hour. Johnson Co. budgeted to make 65,000 seed packets but due to high demand, they ended up making 70,000 packets. They paid $316,008 for 18, 480 hours of packet assembly time. What is their labor cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Enter as a whole number, no commas and no dollar signs.

Johnson Co. makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard labor to count and assemble each packet is 0.05 hours at a cost of $18.00 per hour. Johnson Co. budgeted to make 65,000 seed packets but due to high demand, they ended up making 70,000 packets. They paid $316,008 for 18, 480 hours of packet assembly time. What is their labor cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Enter as a whole number, no commas and no dollar signs.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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am. 187.

Johnson Co. makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard labor to count and assemble each packet is 0.05 hours at a cost of $18.00 per hour. Johnson Co. budgeted to make 65,000 seed packets but due to high demand, they ended up making 70,000 packets. They paid $316,008 for 18, 480 hours of packet assembly time. What is their labor cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Enter as a whole number, no commas and no dollar signs.
Transcribed Image Text:Johnson Co. makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard labor to count and assemble each packet is 0.05 hours at a cost of $18.00 per hour. Johnson Co. budgeted to make 65,000 seed packets but due to high demand, they ended up making 70,000 packets. They paid $316,008 for 18, 480 hours of packet assembly time. What is their labor cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Enter as a whole number, no commas and no dollar signs.
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