Question
Annapolis Company completes job #601 which has a standard of 560 labor hours at a standard rate of $19.50 per hour.The job was completed in
Annapolis Company completes job #601 which has a standard of 560 labor hours at a standard rate of $19.50 per hour.The job was completed in 640 hours and the average actual labor rate was $18.40 per hour.What is the labor rate variance?A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.
Annapolis Company completes job #601 which has a standard of 640 labor hours at a standard rate of $18.50 per hour.The job was completed in 650 hours and the average actual labor rate was $18.60 per hour.What is the labor efficiency (quantity) variance?A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
15th Edition
978-0256168723, 77388720, 256168725, 9780077388720, 978-007337960
