The Marx Company uses a standard costing system. In August, 5,730 actual labor hours were worked at a rate of $12.00 per hour. The standard number of hours is 5,170 and the standard wage rate is $13.60 per hour.

Determine the Labor Rate and Variance Labor Efficiency Variance. (Enter all variances as a positive number.)

Record the related journal entry to record labor cost. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Labor Rate Variance Labor Efficiency Variance Unfavorable Neither Unfavorable nor Favorable Favorable SHOW LIST OF ACCOUNTS