Question
Bucket Works Corporation estimated it would produce 6,200 buckets for Home Depot in August 2020. The actual production was 6,000 during August. The standard labor
Bucket Works Corporation estimated it would produce 6,200 buckets for Home Depot in August 2020.
The actual production was 6,000 during August.
The standard labor cost is 2 buckets per hour at $18.00 per hour. Actual cost per hour was $18.40 with a total labor cost of $53,360.
Instructions
Determine the amounts of the labor price and the labor quantity variances for August.
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Financial Accounting
Authors: Robert F. Meigs, Jan R. Williams, Susan F Haka, Mark S. Bettner
10th Edition
0072316373, 978-0072316377
