Question
At Marx, the standard quantity of labor is 23 hours per refrigeration unit. The standard wage rate is $35. In July, the company produced 80
At Marx, the standard quantity of labor is 23 hours per refrigeration unit. The standard wage rate is $35. In July, the company produced 80 refrigeration units and incurred 2,000 labor hours at a cost of $68,000
Calculate the labor rate variance and the labor efficiency variance, Indicate whether the variances are favorable or unfavorable.
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Financial and Managerial Accounting
Authors: John J Wild, Ken W. Shaw
8th edition
1260247856, 978-1260247855
