Question: 42 Tools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, Tools- N-Time used 3,850 hours of labor at a total cost of $46,970. What is Tools-N-Time's total labor variance?

Question: 42 Tools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, Tools- N-Time used 3,850 hours of labor at a total cost of $46,970. What is Tools-N-Time's total labor variance?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter2: Basic Managerial Accounting Concepts

Section: Chapter Questions

Problem 38E: Total and Unit Product Cost Martinez Manufacturing Inc. showed the following costs for last month:...

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Total labor

Question: 42
Tools-N-Time has a standard of 2 hours of labor per
unit, at $12 per hour. In producing 2,000 units, Tools-
N-Time used 3,850 hours of labor at a total cost of
$46,970. What is Tools-N-Time's total labor
variance?

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