Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee has a standard wage rate of $11.00 per hour. During February, Madrid Co. paid $99,500 to employees for 9,200 hours worked. 2,430 units were produced during February. What is the direct labor efficiency variance? (a) $1,700 favorable (b) $5,720 favorable (c) $852 favorable (d) $7,420 favorable
Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee has a standard wage rate of $11.00 per hour. During February, Madrid Co. paid $99,500 to employees for 9,200 hours worked. 2,430 units were produced during February. What is the direct labor efficiency variance? (a) $1,700 favorable (b) $5,720 favorable (c) $852 favorable (d) $7,420 favorable
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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