Question
Standard Faucets uses standard costing and recorded the following data for the month of August: Standard direct laborrate$10.00 per hour Standard hours allowed for actualproduction20,000
Standard Faucets uses standard costing and recorded the following data for the month of August:
Standard direct laborrate$10.00 per hour
Standard hours allowed for actualproduction20,000 hours
Actual direct laborrate$10.50 per hour
Labor efficiencyvariance$6,000 favorable
How much is the labor rate variance for August?
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael H. Granof, Saleha B. Khumawala
6th edition
978-1-119-4958, 9781118473047, 1118155971, 1118473043, 978-1118155974
