Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mordica Companys standard labor cost per unit of output is $31.32 (2.90 hours x $10.80 per hour). During August, the company incurs 3,883 hours of
Mordica Companys standard labor cost per unit of output is $31.32 (2.90 hours x $10.80 per hour). During August, the company incurs 3,883 hours of direct labor at an hourly cost of $11.34 per hour in making 1,300 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 | $enter a dollar amount rounded to 2 decimal places | select a type of the variance UnfavorableFavorableNeither favorable nor unfavorable | ||
---|---|---|---|---|
Labor price variance | $enter a dollar amount rounded to 2 decimal places | select a type of the variance Neither favorable nor unfavorableUnfavorableFavorable | ||
Labor quantity variance | $enter a dollar amount rounded to 2 decimal places | select a type of the variance Neither favorable nor unfavorableFavorableUnfavorable |
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