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The following labor standards have been established for a particular product: Standard labor hours per unit of output - 1.1 hours Standard labor rate - $11.60 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked -9400 hours Actual total labor cost - $107,630 Actual Output - 8600 units What is the labor rate variance for the month? A) $687 favorable B) $2,106 favorable C) $1,410 favorable D) $2,106 unfavorable

The following labor standards have been established for a particular product: Standard labor hours per unit of output - 1.1 hours Standard labor rate - $11.60 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked -9400 hours Actual total labor cost - $107,630 Actual Output - 8600 units What is the labor rate variance for the month? A) $687 favorable B) $2,106 favorable C) $1,410 favorable D) $2,106 unfavorable

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 following labor standards have been established for a particular product: Standard labor hours per unit of output - 1.1 hours Standard labor rate - $11.60 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked -9400 hours Actual total labor cost - $107,630 Actual Output - 8600 units What is the labor rate variance for the month? A) $687 favorable B) $2,106 favorable C) $1,410 favorable D) $2,106 unfavorable
Transcribed Image Text:The following labor standards have been established for a particular product: Standard labor hours per unit of output - 1.1 hours Standard labor rate - $11.60 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked -9400 hours Actual total labor cost - $107,630 Actual Output - 8600 units What is the labor rate variance for the month? A) $687 favorable B) $2,106 favorable C) $1,410 favorable D) $2,106 unfavorable
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