The following data relates to Koontz Corporation's operations for the month. 1,000 finished units of product were produced and the normal monthly capacity is 2,200 direct labor hours. Standard Total Unit Actual Costs Costs Direct Material: Standard (2 lb. @$10/lb.) Actual (2,200 lb. @ $9.80/lb.) Direct Labor: Standard (2 hr. @ $20/hr.) Actual (2,400 hrs. @ $20.20/hr.) Variable Overhead: Standard (0.5 hr. @ $4/hr.) Actual Total What is the labor rate variance? Select one: O a. 400 U O b. O O O $400 F C. $480 U d. $480 F e. None of the above $20 $40 $2 $21,560 $48,480 $8,700 $62 $78,740

The following data relates to Koontz Corporation's operations for the month. 1,000 finished units of product were produced and the normal monthly capacity is 2,200 direct labor hours. Standard Total Unit Actual Costs Costs Direct Material: Standard (2 lb. @$10/lb.) Actual (2,200 lb. @ $9.80/lb.) Direct Labor: Standard (2 hr. @ $20/hr.) Actual (2,400 hrs. @ $20.20/hr.) Variable Overhead: Standard (0.5 hr. @ $4/hr.) Actual Total What is the labor rate variance? Select one: O a. 400 U O b. O O O $400 F C. $480 U d. $480 F e. None of the above $20 $40 $2 $21,560 $48,480 $8,700 $62 $78,740

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 8PB: Queen Bees Honey, Inc., estimated its annual overhead to be $110,000 and based its predetermined...

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