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The Bronze Company produces Product Y. Direct labor standard input for one output = .30 Direct labor standard cost per input = $9.00 Actual Results Units of output 4,000 Labor costs $11,470 Labor hours of input 1,240 Actual price per hour $9.25 a. What is the manufacturing direct labor price variance? b. What is the manufacturing direct labor efficiency variance?

The Bronze Company produces Product Y. Direct labor standard input for one output = .30 Direct labor standard cost per input = $9.00 Actual Results Units of output 4,000 Labor costs $11,470 Labor hours of input 1,240 Actual price per hour $9.25 a. What is the manufacturing direct labor price variance? b. What is the manufacturing direct labor efficiency variance?

FINANCIAL ACCOUNTING
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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The Bronze Company produces Product Y. Direct labor standard input for one output = .30 Direct labor standard cost per input = $9.00 Actual Results Units of output 4,000 Labor costs $11,470 Labor hours of input 1,240 Actual price per hour $9.25 a. What is the manufacturing direct labor price variance? b. What is the manufacturing direct labor efficiency variance?
Transcribed Image Text:The Bronze Company produces Product Y. Direct labor standard input for one output = .30 Direct labor standard cost per input = $9.00 Actual Results Units of output 4,000 Labor costs $11,470 Labor hours of input 1,240 Actual price per hour $9.25 a. What is the manufacturing direct labor price variance? b. What is the manufacturing direct labor efficiency variance?
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