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The following labor standards have been established for a particular product: Standard labor-hours per unit of output 8.6 hours Standard labor rate $ 15.80 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 10,700 hours Actual total labor cost $ 167,455 Actual output 1,500 units What is the labor rate variance for the month

Respuesta :

Answer:

the labor rate variance for the month is $1,605 favorable

Explanation:

The computation of the  labor rate variance for the month is shown below:

= Actual labor cost - (standard rate Ă— actual hours)

= $167,455 - ($15.80 Ă— 10,700 hours)

= $167,455 - $169,060

= $1,605 favorable

hence, the labor rate variance for the month is $1,605 favorable

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