The standard labor cost in the production of a pair of Beca Brand athletic shoes is...
The standard labor cost in the production of a pair of Beca Brand athletic shoes is 0.40 hours at $14.00 per hour. During the month of June, 24,630 pairs were produced. Actual labor costs were $96,240 for 8,020 hours. Compute the labor rate and labor efficiency variances for the month of June. (Round actual wage rate to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.)
| Labor Rate Variance | $
|
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| Labor Efficiency Variance | $
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Homework Answers
Labor rate variance = (SR-AR) *AH
= (14 - 96,240/8020)*8020
= 16,040 Favourable
.
Labor efficiency variance = (SH-AH)*SR
= (24,630*0.40 - 8020)*14
= 25,648 Favourable
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