The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product:Actual CostsStandard Costs6,200 lb. @ $3.906,000 lb. @ $4.00Direct MaterialDirect Labor 4,300 hrs. @ $14.704,000 hrs. @ $15.00Determine the labor rate variance.Select one:a. $1,200 Fb. $1,200 Uc. $1,290 Fd. $1,290 Ue. None of the above

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Description: The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product:Actual CostsStandard Costs6,200 lb. @ $3.906,000 lb. @ $4.00Direct MaterialDirect Labor 4,300 hrs. @ $14.704,000 hrs.

Labor Rate Variance is the difference between what the actual labor rate per hour and the standard…

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The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product: Actual Costs Standard Costs 6,000 lb. @ $4.00 Direct Material 6,200 lb. @ $3.90 Direct Labor 4,300 hrs. @ $14.70 4,000 hrs. @ $15.00 Determine the labor rate variance. Select one: O a. $1,200 F O b. $1,200 U O c. $1,290 F d. $1,290 U e. None of the above

The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product: Actual Costs Standard Costs 6,000 lb. @ $4.00 Direct Material 6,200 lb. @ $3.90 Direct Labor 4,300 hrs. @ $14.70 4,000 hrs. @ $15.00 Determine the labor rate variance. Select one: O a. $1,200 F O b. $1,200 U O c. $1,290 F d. $1,290 U e. None of the above

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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