(Answered) Calculate labor variancesjohnson inc manufactures lead

Finance

Calculate labor variances

Johnson, Inc., manufactures lead crystal glasses. The standard direct labor time is 0.3 hour per glass, at a price of $13 per hour. The actual results for the production of 6,900 glasses were 0.2 hour per glass, at a price of $10 per hour.

Requirement

1. Calculate the labor price variance and the labor efficiency variance.

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