Riko companys standard labour cost of producing one unit of, Ask an Expert

Accounting

Riko Company's standard labour cost of producing one unit of product KK is 3.10 hours at the rate of $10.00 per hour. During August, 41,658 hours of labour are incurred at a cost of $10.20 per hour to produce 13,100 units of product KK.

a) Calculate the total labour variance.

b) Compute the labor price and quantity variances.
Labor price variance $________ Favorable/Unfavorable
Labor quantity variance $_______ Favorable/Unfavorable

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9945746

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