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Target provided the following information: Standard Data Materials 10 lbs per Finished Good unit Cost...

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Accounting

Target provided the following information: Standard Data Materials 10 lbs per Finished Good unit Cost of Materials $4 per lb. Labor 3 hours per Finished Good unit Cost of Labor $12 per labor hour Budgeted production 4,200 units Actual Data Materials Purchased. Actual data: materials purchased 50,800 lbs. cost of materials $218,440. Materials used 41,800 lbs. Labor 25,000 hours worked. total labor cost 200,100. Produced 4,080. Calculate the labor price variance

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