The following direct labor data pertain to the operations of Concord Corp. for the month...
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Accounting
The following direct labor data pertain to the operations of Concord Corp. for the month of November:
| Actual labor rate | $12.25 per hr. | ||
| Actual hours used | 20,160 | ||
| Standard labor rate | $12.00 per hr. | ||
| Standard hours allowed | 18,900 |
Calculate the labor variances. Identify whether each variance is favorable or unfavorable.
| Labor Price Variance | $enter a dollar amount | select an option FavorableNot ApplicableUnfavorable | ||
|---|---|---|---|---|
| Labor Quantity Variance | $enter a dollar amount | select an option UnfavorableNot ApplicableFavorable | ||
| Total Labor Variance | $enter a dollar amount | select an option FavorableNot ApplicableUnfavorable |
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