1. Annapolis Company completes job #601 which has a standard of 610 labor hours at a standard rate of $18.35 per hour.The job was completed in 660 hours and the average actual labor rate was $18.10 per hour.What is the labor rate variance?Round and enter as a whole number (no cents).
2. Annapolis Company completes job #601 which has a standard of 570 labor hours at a standard rate of $18.40 per hour.The job was completed in 520 hours and the average actual labor rate was $17.50 per hour.What is the labor efficiency (quantity) variance?A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.