Thomas Company reports the following direct labor information for one of its products for April: Standard rate.
Question:
Thomas Company reports the following direct labor information for one of its products for April:
Standard rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $21.00 per hour
Actual rate paid . . . . . . . . . . . . . . . . . . . . . . . . . . . $21.60 per hour
Standard hours allowed for actual production . . . . 5,600 hours
Labor efficiency variance. . . . . . . . . . . . . . . . . . .$16,800 F
Required
Based on these data, what was the number of actual hours worked and what was the labor price variance?
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Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
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