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Question: SonicTech Manufacturing produces audio equipment. The company expects that each unit of its premium speakers will require 3.2 hours of labor at a standard cost of $8.40 per hour. During the most recent production period, SonicTech actually used 3.0 hours per unit, and the actual labor cost per hour was $8.75. The company produced 2,000 units during this period. What is the labor price variance? A. $2,100 Favorable B. $2,100 Unfavorable C. $8,400 Favorable D. $8,400 Unfavorable

Question: SonicTech Manufacturing produces audio equipment. The company expects that each unit of its premium speakers will require 3.2 hours of labor at a standard cost of $8.40 per hour. During the most recent production period, SonicTech actually used 3.0 hours per unit, and the actual labor cost per hour was $8.75. The company produced 2,000 units during this period. What is the labor price variance? A. $2,100 Favorable B. $2,100 Unfavorable C. $8,400 Favorable D. $8,400 Unfavorable

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter8: Standard Costs And Variances
Section: Chapter Questions
Problem 5PA: Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but...
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Question: SonicTech Manufacturing produces audio equipment. The company expects that each unit of its premium speakers will require 3.2 hours of labor at a standard cost of $8.40 per hour. During the most recent production period, SonicTech actually used 3.0 hours per unit, and the actual labor cost per hour was $8.75. The company produced 2,000 units during this period. What is the labor price variance? A. $2,100 Favorable B. $2,100 Unfavorable C. $8,400 Favorable D. $8,400 Unfavorable
Transcribed Image Text:Question: SonicTech Manufacturing produces audio equipment. The company expects that each unit of its premium speakers will require 3.2 hours of labor at a standard cost of $8.40 per hour. During the most recent production period, SonicTech actually used 3.0 hours per unit, and the actual labor cost per hour was $8.75. The company produced 2,000 units during this period. What is the labor price variance? A. $2,100 Favorable B. $2,100 Unfavorable C. $8,400 Favorable D. $8,400 Unfavorable
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