Question
Marites Corporation reports the following standards for direct labor for 2021: Standard cost per hour Standard quantity per finished good P23 2.25 hours During
Marites Corporation reports the following standards for direct labor for 2021: Standard cost per hour Standard quantity per finished good P23 2.25 hours During 2021, 215,000 finished goods were produced. The direct labor efficiency variance was P4,025 favorable. The direct labor flexible budget variance was P700 favorable. 0 Calculate the following items regarding direct labor for Marites Corporation for 2021: c) direct labor price variance standard quantity of direct labor for actual production actual hours of direct labor incurred for actual production
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To calculate the direct labor price variance we need to use the following formula Direct labor price variance Actual rate Standard rate x Actual hours ...Get Instant Access to Expert-Tailored Solutions
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Managerial Accounting Creating Value in a Dynamic Business Environment
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