FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A company, which uses standard costing, manufactures a single product with the following cost card:
Standard Direct Labor Hours allowed per unit of product
4.5 DLHS
Standard Direct Labor Rate
Selected results for the most recent period are:
Budgeted Production
Actual Production
Actual Direct Labor Cost
Actual Direct Labor Hours
Labor Rate Variance
Labor Spending Variance
What is the Labor Rate Variance?
2,200 units
2,500 units
$ 125,000
S
11,700 hours
?
4,150 Favorable
?per DLH
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Transcribed Image Text:A company, which uses standard costing, manufactures a single product with the following cost card: Standard Direct Labor Hours allowed per unit of product 4.5 DLHS Standard Direct Labor Rate Selected results for the most recent period are: Budgeted Production Actual Production Actual Direct Labor Cost Actual Direct Labor Hours Labor Rate Variance Labor Spending Variance What is the Labor Rate Variance? 2,200 units 2,500 units $ 125,000 S 11,700 hours ? 4,150 Favorable ?per DLH
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