Total Labor Variance i Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.02 hours. During the month of April, 470,000 bottles were produced using 14,0 labor hours $10.50. The standard wage rate is $7.50 per hour. Required: Calculate the total variance for production labor for the month of April. Enter amounts as positive numbers. If required, round your answer to the nearest cent. Unfavorable

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Total Labor Variance
Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.02 hours. During the month of April, 470,000 bottles were produced using 14,000
labor hours $10.50. The standard wage rate is $7.50 per hour.
Required:
Calculate the total variance for production labor for the month of April. Enter amounts as positive numbers. If required, round your answer to the nearest cent.
Unfavorable
Transcribed Image Text:BI Total Labor Variance Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.02 hours. During the month of April, 470,000 bottles were produced using 14,000 labor hours $10.50. The standard wage rate is $7.50 per hour. Required: Calculate the total variance for production labor for the month of April. Enter amounts as positive numbers. If required, round your answer to the nearest cent. Unfavorable
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