Williams Corporation reports the following direct labor information for November: $ 33.00 per hour $ 33.80 per hour 44, 600 hours $201, 300 F Standard rate Actual rate paid Standard hours allowed for actual production Labor efficiency variance Required: Based on these data, what was the number of actual hours worked and what was the labor price variance? (Indicate the effect of ea variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Actual hours worked Labor price variance hours

Williams Corporation reports the following direct labor information for November: $ 33.00 per hour $ 33.80 per hour 44, 600 hours $201, 300 F Standard rate Actual rate paid Standard hours allowed for actual production Labor efficiency variance Required: Based on these data, what was the number of actual hours worked and what was the labor price variance? (Indicate the effect of ea variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) Actual hours worked Labor price variance hours

Name: Williams Corporation reports the following direct labor information f
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Description: Williams Corporation reports the following direct labor information for November:Standard rate$4Actual rate paidStandard hours allowed for actual productionLabor efficiency variance33.00 per hour33.80 per hour44, 600 hours$201, 300 FRequired:Based o

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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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Question

Williams Corporation reports the following direct labor information for November:
Standard rate
$4
Actual rate paid
Standard hours allowed for actual production
Labor efficiency variance
33.00 per hour
33.80 per hour
44, 600 hours
$201, 300 F
Required:
Based on these data, what was the number of actual hours worked and what was the labor price variance? (Indicate the effect of each
variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)
Actual hours worked
Labor price variance
hours

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Please help me with show all calculation thanku
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.
The incorrect answer is neither what is shown on the image nor $4,905.
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