Question
In: Accounting
standard labor hours per unit 4.5 hours standard labor rate $17 per hour actual hours worked...
| standard labor hours per unit | 4.5 hours |
| standard labor rate | $17 per hour |
| actual hours worked | 2,000 hours |
| actual labor | $38,000 |
| actual output | 500 units |
What is the labor efficiency variance?
|
$4,250 favorable |
||
|
$1,500 unfavorable |
||
|
$4,250 unfavorable |
||
|
$1,500 favorable Which is correct? |
Solutions
Expert Solution
| Correct Answer is $ 4250 favourable | ||||||||
| Labor efficiency variance = SR (SH - AH) | ||||||||
| = $17 (2250-2000) | ||||||||
| = $4250 favourable | ||||||||
| Where ,SR is the standard labor rate per hour = $17 | ||||||||
| SH is the standard labor hours allowed for the product | ||||||||
| 500 units *4.5hour per unit = 2250 hours | ||||||||
| & AH is the actual hours worked = 2000 hours | ||||||||
ekkarill92 answered 2 years agoRelated Solutions
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Standard labor rate
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Actual total labor cost
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Actual total labor cost
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