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The following labor standards have been established for a particular product: Standard labor-hours per unit of output 8.7 hours Standard labor rate $18.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 3,80e hours Actual total labor cost $67,640 Actual output 500 units What is the labor efficiency variance for the month?

The following labor standards have been established for a particular product: Standard labor-hours per unit of output 8.7 hours Standard labor rate $18.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 3,80e hours Actual total labor cost $67,640 Actual output 500 units What is the labor efficiency variance for the month?

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 8.7 hours Standard labor rate $18.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 3,800 hours Actual total labor cost $67,640 Actual output 500 units What is the labor efficiency variance for the month? Multiple Choice $9,955 F $9,790 F $11,095 U $1,095 F
Transcribed Image Text:The following labor standards have been established for a particular product: Standard labor-hours per unit of output 8.7 hours Standard labor rate $18.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 3,800 hours Actual total labor cost $67,640 Actual output 500 units What is the labor efficiency variance for the month? Multiple Choice $9,955 F $9,790 F $11,095 U $1,095 F
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