Johnson Co. makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard labor to count and assemble each packet is 0.06 hours at a cost of $16.70 per hour. Johnson Co. budgeted to make 65,000 seed packets but due to high demand, they ended up making 71,000 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 0.06 hours at a cost of $16.70 per hour. Johnson Co. budgeted to make 65,000 seed packets but due to high demand, they ended up making 71,000 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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Description: Johnson Co. makes organic non-GMOvegetable seed packets for the chef/gardenermarket. The standard labor to count andassemble each packet is 0.06 hours at a cost of$16.70 per hour. Johnson Co. budgeted tomake 65,000 seed packets but due to highdemand

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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