Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mordica Companys standard labor cost per unit of output is $33.00 (3.00 hours x $11.00 per hour). During August, the company incurs 2,970 hours of
Mordica Companys standard labor cost per unit of output is $33.00 (3.00 hours x $11.00 per hour). During August, the company incurs 2,970 hours of direct labor at an hourly cost of $9.90 per hour in making 1,100 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.)
Total labor variance | $ | UnfavorableNeither favorable nor unfavorableFavorable | ||
Labor price variance | $ | UnfavorableFavorableNeither favorable nor unfavorable | ||
Labor quantity variance | $ | FavorableNeither favorable nor unfavorableUnfavorable |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started