The following labor standards have been established for a particular product:
|
|
|
| Standard labor hours per unit of output |
4.1 |
hours |
| Standard labor rate |
$17.00 |
per hours |
|
|
The following data pertain to operations concerning the product for the last month:
|
|
|
|
| Actual hours worked |
5,500 |
hours |
| Actual total labor cost |
$94,050 |
|
| Actual output |
1,200 |
units |
|
| Required: |
| a. |
What is the labor rate variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.)
|
| Labor rate variance |
$ |
(Click to select)FUNone |
| b. |
What is the labor efficiency variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.)
|
| Labor efficiency variance |
$ |
(Click to select)FUNone |