The following labor standards have been established for a particular product: Standard labor...
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The following labor standards have been established for a particular product: Standard labor hours per unit of output hours Standard labor rate $ per hour The following data pertain to operations concerning the product for the last month: Actual hours worked hours Actual total labor cost $ Actual output units Required: What is the labor rate variance for the month? What is the labor efficiency variance for the month? Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance Input all amounts as positive values.
The following labor standards have been established for a particular product:
Standard labor hours per unit of output hours
Standard labor rate $ per hour
The following data pertain to operations concerning the product for the last month:
Actual hours worked hours
Actual total labor cost $
Actual output units
Required:
What is the labor rate variance for the month?
What is the labor efficiency variance for the month?
Note: Indicate the effect of each variance by selecting F for favorable, U for unfavorable, and "None" for no effect ie zero variance Input all amounts as positive values.
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