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Weston Inc. completes Job 214 which has a standard of 540 labor hours at a standard rate of $20.40 per hour. The job was completed in 802 hours and the average actual labor rate was $22.10 per hour. What is the labor rate variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.

Weston Inc. completes Job 214 which has a standard of 540 labor hours at a standard rate of $20.40 per hour. The job was completed in 802 hours and the average actual labor rate was $22.10 per hour. What is the labor rate variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 9DQ: At the end of the period, the factory overhead account has a credit balance of 10,000. (a) Is the...
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Weston Inc. completes Job 214 which has a standard of 540 labor hours at a standard rate of $20.40 per hour. The job was completed in 802 hours and the average actual labor rate was $22.10 per hour. What is the labor rate variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.
Transcribed Image Text:Weston Inc. completes Job 214 which has a standard of 540 labor hours at a standard rate of $20.40 per hour. The job was completed in 802 hours and the average actual labor rate was $22.10 per hour. What is the labor rate variance? A negative number indicates a favorable variance and a positive number indicates an unfavorable variance.
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