Given the following information in standard costing:Standard17,800 hours at $5.80Actual17,600 hours at $5.60What is the direct labor rate variance?Multiple Choice$2,630 Unfavorable$2,630 Favorable$3,520 FavorableO $3,520 Unfavorable TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standardcost. TaskMaster has established the following standards for the prime costs of one unit of product.StandardStandardStandardQuantityPriceCost$1.70 per pound$9.20 per hourDirect Materials8 pounds$13.60Direct Labor0.25 hour2.30$15.90During November, TaskMaster purchased 160,000 pounds of direct materials at a total cost of $288,000. Thetotal factory wages for November were $44,000, 90% of which were for direct labor. TaskMaster manufactured17,000 units of product during November using 126,000 pounds of direct materials and 4,500 direct labor hours.What is the direct labor efficiency variance for November?Multiple ChoiceO $2,800$1,478$1,700O $2,300

Name: Given the following information in standard costing:Standard17,800 ho
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Description: Given the following information in standard costing:Standard17,800 hours at $5.80Actual17,600 hours at $5.60What is the direct labor rate variance?Multiple Choice$2,630 Unfavorable$2,630 Favorable$3,520 FavorableO $3,520 Unfavorable TaskMaster Enter

Labor Rate Variance = (AR - SR) * AH Labor Efficiency Variance = (AH - SH) * SR

Business

Accounting

Given the following information in standard costing: 17,800 hours at $5.80 |17,600 hours at $5.60 Standard Actual What is the direct labor rate variance? Multiple Choice $2,630 Unfavorable O $2,630 Favorable $3,520 Favorable $3,520 Unfavorable

Given the following information in standard costing: 17,800 hours at $5.80 |17,600 hours at $5.60 Standard Actual What is the direct labor rate variance? Multiple Choice $2,630 Unfavorable O $2,630 Favorable $3,520 Favorable $3,520 Unfavorable

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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