Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2. The following cost information is for Leslie Company, Actual results: to Total cost of purchasing material: $58,000 Number of labor hours worked: 1,000 hours
2. The following cost information is for Leslie Company, Actual results: to Total cost of purchasing material: $58,000 Number of labor hours worked: 1,000 hours Number of material pounds used in production: 5,850 pounds Total labor cost: $48,000 Number of units produced: 300 units Number of material pounds purchased: 6,250 pounds Leslie Company has established the following standards: Price per pound of materials: $10.00 per pound Number of pounds of material to produce one unit: 20 pounds Standard labor rate: $50.00 per hour Number of labor hours to produce one unit: 3 hours Compute Leslie's Labor Rate Variance. O $5,000 Favorable $5,000 Unfavorable $2,000 Favorable $2,000 Unfavorable O $3,000 Favorable O $3,000 Unfavorable
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started