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Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher
Edition 2ISBN: 978-0077274993Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher
Edition 2ISBN: 978-0077274993 Exercise 2
Variable Cost Variances
The standard direct labor cost per unit for a company was $5 (= $20 per hour X 0.25 hours per unit). During the period, actual direct labor costs amounted to $30,000, 1,600 labor-hours were worked, and 5,600 units were produced.
Required
Compute the direct labor price and efficiency variances for the period. (Refer to Exhibit 16.9 for the format to use.)
The standard direct labor cost per unit for a company was $5 (= $20 per hour X 0.25 hours per unit). During the period, actual direct labor costs amounted to $30,000, 1,600 labor-hours were worked, and 5,600 units were produced.
Required
Compute the direct labor price and efficiency variances for the period. (Refer to Exhibit 16.9 for the format to use.)
Explanation
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Steps to calculate labor price variance:...
Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher
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