Question
The labor standard for a product was five hours at a wage rate of $8 per hour. The firm produced 900 units of the item.
The labor standard for a product was five hours at a wage rate of $8 per hour. The firm produced 900 units of the item. Labor costs totaled $35,250 and 4,700 hours of labor were used. An analysis of labor costs would indicate
| a $750 favorable labor time variance. |
| a $1,600 unfavorable labor time variance. |
| a $750 unfavorable labor rate variance. |
| a $1,600 favorable labor rate variance. |
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Auditing Jane Doe
Authors: Michelle Cornish
1st Edition
1777418828, 978-1777418823
