Homework Answers
Labor rate variance
= (Standard rate - Actual rate) *Actual hours
= (18 - 19) * 5500 hours
= 5500 Unfavorable
.
Labor Time variance
= (Standard hours - Actual hours) * Standard rate
= (2500*2 - 5500) * 18
= 9000 Unfavorable
.
Cost variance = 5500U + 9000U
= 14,500 Unfavorable
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II Bing Co. produces a product that requires 2 standard hours of labor per unit at...
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