Choice?? And accounting question unitBright way Industries has set labor costs at $50 perof output, based on 5 hours allowed per finished unit.Last month:6,500 direct labor hours were used.1,400 units of output were manufactured.Total labor cost incurred=$85,000.Determine the labor rate variance.

Step 1: Definition of Labor Rate VarianceLabor Rate Variance (LRV) measures the difference between…

Answered: unit Bright way Industries has set…

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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unit Bright way Industries has set labor costs at $50 per of output, based on 5 hours allowed per finished unit. Last month: 6,500 direct labor hours were used. 1,400 units of output were manufactured. Total labor cost incurred = $85,000. Determine the labor rate variance.