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…

Business

Accounting

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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