Essay
Motts Incorporated has a standard cost system in which the standard direct labor for a particular product is 0.50 hours at the standard rate of $21.00 per hour. The company has reported the following actual results for the product for October:
Required:a. Compute the labor rate variance for October.b. Compute the labor efficiency variance for October.
Correct Answer:
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a. Labor rate variance = (Actual hours ×...View Answer
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