The standard labor cost in the production of a pair of Tukor Brand athletic shoes is 0.40 hours at $14 per hour. During the month of June, 24,900 pairs were produced. Actual labor costs were $132,000 for 8800 hours. Compute the labor rate and labor efficiency variances for the month of June.

The standard labor cost in the production of a pair of Tukor Brand athletic shoes is 0.40 hours at $14 per hour. During the month of June, 24,900 pairs were produced. Actual labor costs were $132,000 for 8800 hours. Compute the labor rate and labor efficiency variances for the month of June.

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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Transcribed Image Text:The standard labor cost in the production of a pair of Tukor Brand athletic shoes is 0.40 hours at $14 per hour. During the month of June, 24,900 pairs were produced. Actual labor costs were $132,000 for 8800 hours. Compute the labor rate and labor efficiency variances for the month of June.

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