Question
The standard labor cost in the production of a pair of Richetti Brand athletic shoes is 0.40 hours at $12.00 per hour. During the month
The standard labor cost in the production of a pair of Richetti Brand athletic shoes is 0.40 hours at $12.00 per hour. During the month of June, 22,650 pairs were produced. Actual labor costs were $91,920 for 7,660 hours. Compute the labor rate and labor efficiency variances for the month of June. (Round actual wage rate to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.)
Labor Rate Variance | $$$$$ | select an option Neither Unfavorable nor Favorable / Unfavorable / Favorable | |||
Labor Efficiency Variance | $$$$$ | select an option Favorable / Neither Unfavorable nor Favorable / Unfavorable |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started