Explain what is the labor rate variance for the month and, Ask an Expert

Management Studies

Computing Labor Rate and Efficiency Variances

The following labor standards have been established for a particular product:
Standard labor hours per unit of output......0.3 hours
Standard labor rate..................................$15.50 per hour

The following data pertain to operations concerning the product for the last month:
Actual hours worked.........3800
Actual total labor cost.....$59,470
Actual output.......... 12,800 units

Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month

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HR Management, Management Studies

Category:- HR Management
Reference No.:- M9216549

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