Answer:
Direct labor rate variance= $8,320 favorable
Explanation:
Giving the following information:
Standard costs 7,000 hours at $11.40 Actual costs 6,400 hours at $10.10
<u>To calculate the direct labor rate variance, we need to use the following formula:</u>
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (11.4 - 10.1)*6,400
Direct labor rate variance= $8,320 favorable
Answer:
warranty
Explanation:
A warranty is a guarantee from a seller to buyer promising to if necessary repair or replace the purchased item with a stated period.
Answer:
b. cost-plus pricing
Explanation:
cost-plus pricing is a price base that involves a markup addition to the cost of services and goods to get to the final selling price. In this technique you compute all cost (material, labor, etc) and then add a percentage in order to obtain the product's price