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SVEN [57.7K]
2 years ago
8

Dreary Credit Agency processes credit applications. The labor standard at Dreary is $15 per hour, 8 hours per day (per employee)

. During the last pay period (10 business days), Dreary's 25 credit agents worked 1,920 hours and processed 2,500 applications. The total labor cost for the agents during this period was $29,184. What was Dreary's direct labor efficiency variance for this last pay period
Business
1 answer:
valentinak56 [21]2 years ago
3 0

Answer:

See below

Explanation:

Given the above, we will calculate first the standard hours allowed for actual work using the formula below

Standard hours allowed for actual work

= Total number of applications × Number of standard

= 2.500 × 8 hours × 10

= 2,000 hours

Therefore, the labor efficiency variance

= (Actual hours worked - Standard hours allowed for actual work) × Standard rate

= (1,920 - 2,000 ) × $15

= -$1,200

The labor efficiency variance is $1,200 favorable

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