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Vlada [557]
3 years ago
9

Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In 2017, MCP estimated the followin

g standard costs for one of their most popular products. Budgeted quantity Budgeted price Direct materials 4 pounds $7.25 per pound Direct labor 0.60 hours $17.00 per hourDuring September, MCP produced and sold 2,000 units using 8,200 pounds of direct materials at an average cost per pound of $7.00 and 1,160 direct labor hours at an average wage of $17.50 per hour. The direct labor efficiency variance during September is ________. $600 favorable $700 unfavorable $680 favorable $100 unfavorable
Business
1 answer:
Tasya [4]3 years ago
7 0

Answer:

See below

Explanation:

The below shows the calculation of variance

Budgeted direct labor (per unit) 0.60

Units 2,000

Budgeted direct total labor (hrs) 1,200

Actual hours 1,160

Standard rate $17

Direct labor efficiency variance

The direct labor efficiency variance

= (Budgeted hours - Actual hours) × Standard rate

= (1,200 - 1,160) × $18

= $720 favourable

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