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The following data relate to direct labor costs for the current month : Standard Costs : 7,500 hours @ $ 11.50 per hour Actual Costs : 6,000 hours @ $ 12.00 per hour What is the direct labor efficiency ( time ) variance ?   $17,250 favorable $3,000 unfavorable $18,000 favorable None of the listed choices are correct $3,750 unfavorable

The following data relate to direct labor costs for the current month : Standard Costs : 7,500 hours @ $ 11.50 per hour Actual Costs : 6,000 hours @ $ 12.00 per hour What is the direct labor efficiency ( time ) variance ?   $17,250 favorable $3,000 unfavorable $18,000 favorable None of the listed choices are correct $3,750 unfavorable

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following data relate to direct labor costs for the current month :

Standard Costs : 7,500 hours @ $ 11.50 per hour

Actual Costs : 6,000 hours @ $ 12.00 per hour

What is the direct labor efficiency ( time ) variance ?

 

$17,250 favorable

$3,000 unfavorable

$18,000 favorable

None of the listed choices are correct

$3,750 unfavorable

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