Vanderwaal Company uses a standard costing system. In August, 5,300 actual labor hours were worked at a

Question:

Vanderwaal Company uses a standard costing system. In August, 5,300 actual labor hours were worked at a rate of $12.50 per hour. The standard number of hours is 5,275 and the standard wage rate is $12.75 per hour. Prepare a journal entry to record labor cost and related variances during the month.