Peak industry standard wage rate solve this accounting questions Peak Industries' standard wage rate is $14.50 per direct labor-hour(DLH), and according to standards, each unit of output requires 3.8DLHs. In June, 3,200 units were produced, the actual wage rate was$14.25 per DLH, and the actual hours were 13,440 DLHs. What wouldthe Labor Efficiency Variance for June be recorded as?

Step 1: Definition of Labor Efficiency VarianceLabor Efficiency Variance: This variance measures the…

Answered: Peak Industries' standard wage rate is…

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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The following labor standards have been established for a particular product: Standard labor hours per unit of output 2.8 hours Standard labor rate per hour $ 11.50 The following data pertain to operations concerning the product for the last month: Actual time worked: 6,900 hours Actual total labor cost: $ 80,385 Actual output: 2,300 units What is the labor rate variance for the month? What is the labor efficiency variance for the month?

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