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garri49 [273]
3 years ago
14

The following labor standards have been established for a particular product:Standard labor hours per unit of output 4.3 hoursSt

andard labor rate $ 20.10 per hourThe following data pertain to operations concerning the product for the last month:Actual hours worked 6,900 hoursActual total labor cost $ 139,380Actual output 1,500 unitsRequired:a. What is the labor rate variance for the month?b. What is the labor efficiency variance for the month?
Business
1 answer:
Nat2105 [25]3 years ago
7 0

Answer: 1. $690 (favorable)

2.  $9045 (favorable)

Explanation: These can be computed as follows :-

Labor rate variance = Actual labor cost - (standard rate * actual hours)

                                  =  $139,380 - ( $20.1 * 6900 hours )

                                  = $690 (favorable)

.

Labor efficiency variance = ( Actual hours - standard hours ) * (standard rate )

                                          = [6900 hours - (1500 units * 4.3 hours) ] * ($20.1)

                                          = $9045 (favorable)

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Answer:

C. adjusted trial balance to the financial statements.

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3 0
3 years ago
A rich relative has bequeathed you a growing perpetuity. the first payment will occur in a year and will be $ 3 comma 000$3,000.
MAVERICK [17]
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8 0
4 years ago
If house A had a sale price of $70,000, monthly rent of $500, and a GRM of 140; House B had a sale price of $68,500, monthly ren
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Answer:

$69,300

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The gross rent multiplier GRM is obtained as the proportion of the sale price of a property to it's monthly rent.

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If a property is rented for 495 and house A is the

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140 × $495 = $69,300

7 0
3 years ago
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4 0
3 years ago
In a free market, how might Italian restaurants react to a shortage of pizza?
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