Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Williams Corporation reports the following direct labor information for November: Standard rate $ 33.00 per hour Actual rate paid $ 33.70 per hour Standard hours
Williams Corporation reports the following direct labor information for November:
Standard rate | $ | 33.00 | per hour |
Actual rate paid | $ | 33.70 | per hour |
Standard hours allowed for actual production | 44,100 | hours | |
Labor efficiency variance | $ | 207,900 | F |
Required:
Based on these data, what was the number of actual hours worked and what was the labor price variance? (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)
Actual Hours worked in hours
Labor Price Variance
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