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Labor Variances Data on Goodman Company's direct labor costs is given below: Standard hours allowed 30,000 Actual direct labor hours 29,000 Labor usage variance, favorable
Labor Variances
Data on Goodman Company's direct labor costs is given below:
Standard hours allowed | 30,000 |
Actual direct labor hours | 29,000 |
Labor usage variance, favorable | $4,000 |
Labor rate variance, favorable | $5,800 |
Toytal Payroll | $110,200 |
Calculate the:
(a) Standard direct labor rate.
(b) Actual direct labor rate.
A step-by-step on how to find those calculations would be super helpful; not sure where to start!
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