The H55 Company uses a standard costing system. In August, 5,950 actual labor hours were worked at a rate of $12.60 per hour. The standard number of hours is 4,840 and the standard wage rate is $13.50 per hour.

Exercise 11-14 The H55 Company uses a standard costing system. In August, 5,950 actual labor hours were worked at a rate of $12.60 per hour. The standard number of hours is 4,840 and the standard wage rate is $13.50 per hour. Determine the Labor Rate and Variance Labor Efficiency Variance. (Enter all variances as a positive number.) Labor Rate Variance Labor Efficiency Variance s