Essay
The following direct labor data pertain to the operations of Murray Industries for the month of November:
Standard labor rate $15.00 per hr.
Actual hours incurred 9,000
The standard cost card shows that 2.5 hours are required to complete one unit of product. The actual labor rate incurred exceeded the standard rate by 10%. Four thousand units were manufactured in November.
Instructions
(a) Calculate the price, quantity, and total labor variances.
(b) Journalize the entries to record the labor variances.
Correct Answer:
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Overhead controllable variance = Actual ...View Answer
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