Question
The Standard and actual figures of a firm are as under: Standard time for the job: 1000 hours Standard Rate per hours: $ 0.50 Actual
The Standard and actual figures of a firm are as under:
Standard time for the job: 1000 hours
Standard Rate per hours: $ 0.50
Actual time taken: 900 hours
Actual wages paid: $ 360
Compute Labor rate variance (LRV) and Labor Efficiency Variance (LEV).
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Financial Accounting International Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
6th Edition
978-0470623275
