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Question: Total production of 1,000 units of finished goods required 3,910 actual hours at $12.50 per hour. The standard is 4 hours per unit of finished goods, at a standard rate of $11.50 per hour. Which of the following statements is true?

a. the total labor variance is $2,875 favorable

b. the labor rate variance is $3,910 unfavorable

c. the labor efficiency variance is $1,035 unfavorable

d. The toal labor variance is $2,750 unfavorable

e. none of these

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92571950

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