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abor Variances Verde Company produces wheels for bicycles. During the year, 661,000 wheels were produced. The actual labor used was 356,000 hours at $9.40 per
abor Variances
Verde Company produces wheels for bicycles. During the year, 661,000 wheels were produced. The actual labor used was 356,000 hours at $9.40 per hour. Verde has the following labor standards: 1) $10.20 per hour; 2) 0.47 hour per wheel.
Required:
1. Compute the labor rate variance. $fill in the blank 1
FavorableUnfavorable
2. Compute the labor efficiency variance. $fill in the blank 3
FavorableUnfavorable
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