Hatch has a standard of 2.9 hours of labor per unit, at $11.40 per hour. In producing 1780 units, Hatch used 5,300 hours of labor at a total cost of $57.200. What is Hatch's total labor variance? a. $1,647 Favorable. b. $1,647 Unfavorable. c. $3,220 Unfavorable. d. $3,220 Favorable.

Hatch has a standard of 2.9 hours of labor per unit, at $11.40 per hour. In producing 1780 units, Hatch used 5,300 hours of labor at a total cost of $57.200. What is Hatch's total labor variance? a. $1,647 Favorable. b. $1,647 Unfavorable. c. $3,220 Unfavorable. d. $3,220 Favorable.

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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Hatch has a standard of 2.9 hours of labor per unit,
at $11.40 per hour. In producing 1780 units, Hatch
used 5,300 hours of labor at a total cost of $57.200.
What is Hatch's total labor variance?
a. $1,647 Favorable.
b. $1,647 Unfavorable.
c. $3,220 Unfavorable.
d. $3,220 Favorable.

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.

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