The following labor variance analysis was performed for Longman. Requirements 1. Record Longmans direct labor journal entries.
Question:
Requirements
1. Record Longmans direct labor journal entries.
2. Explain what management will do with this varianceinformation.
Transcribed Image Text:
Actual Rate Standard Rate Standard Rate Actual Hours Standard Hours Allowed Actual Hours $13 x 1,700 = $22,100 $13 x 1,250 = $16,250 $11 x 1,700 $ 18,700 Price Variance $3,400 F Efficiency Variance $5,850 U
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Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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