Question
Wolery Incorporated has provided the following data concerning one of the products in its standard cost system. Inputs Standard Quantity or Hours per Unit of
Wolery Incorporated has provided the following data concerning one of the products in its standard cost system.
| Inputs | Standard Quantity or Hours per Unit of Output | Standard Price or Rate | ||
|---|---|---|---|---|
| Direct labor | 0.20 | hours | $ 21.70 | per hour |
The company has reported the following actual results for the product for April:
| Actual output | 8,800 | units |
|---|---|---|
| Actual direct labor-hours | 1,610 | hours |
| Actual direct labor rate | $ 23.30 | per hour |
The labor rate variance for the month is closest to:
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Financial Accounting For Decision Makers
Authors: Peter Atrill, Eddie McLaney
7th Edition
027378563X, 9780273785637
