Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Williams Corporation reports the following direct labor information for November: Standard rate $ 31.00 per hour Actual rate paid 31.80 per hour Standard hours


Williams Corporation reports the following direct labor information for November: Standard rate $ 31.00 per hour Actual rate paid 31.80 per hour Standard hours allowed for actual production 44,200 hours Labor efficiency variance $195,300 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 Labor price variance hours

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To find the number of actual hours worked we can use the labor efficiency variance formula Labo... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Cost Accounting

Authors: William Lanen, Shannon Anderson, Michael Maher

5th edition

978-1259728877, 1259728870, 978-1259565403

More Books

Students also viewed these Accounting questions