Mordica Company’s standard labor cost per unit of output is $23.00 (2.30 hours x $10.00 per...
Mordica Company’s standard labor cost per unit of output is $23.00 (2.30 hours x $10.00 per hour). During August, the company incurs 2,691 hours of direct labor at an hourly cost of $11.00 per hour in making 1,300 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.)
Total labor variance
Labor price variance
Labor Quality Varience
Homework Answers
Total Labor Variance = (2,691 x 11) + (1,300 x 2.3 x 10)
=299 (Favorable)
Labor Price Variance = (11 - 10)2,691
=2,691 (unfavorable)
Labor Quality Variance = (2,691 - 2,990)10
=2,990 (Favorable)
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