The following labor standards have been established for a particular product at Redwood Technologies: • Standard labor hours per unit of output: 1.2 hours Standard labor rate: $12 per hour The following data pertain to operations concerning the product for the last month: • Actual hours worked: 15,500 hours Actual total labor cost: $126,000 • Actual output: 9,500 units What is the labor rate variance for the month?

The following labor standards have been established for a particular product at Redwood Technologies: • Standard labor hours per unit of output: 1.2 hours Standard labor rate: $12 per hour The following data pertain to operations concerning the product for the last month: • Actual hours worked: 15,500 hours Actual total labor cost: $126,000 • Actual output: 9,500 units What is the labor rate variance for the month?

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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