The following labor standards have been established for a particular product: Standard labor hours per...
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The following labor standards have been established for a particular product: Standard labor hours per unit of output Standard labor rate 4.1 hours $17.00 per hours 5,500 hours Actual hours worked Actual total labor cost Actual output $94,050 1,200 units Required: a. What is the labor rate variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "O" wherever required. Indicate the effect of each variance by selecting "F"for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.) Labor rate variance b. What is the labor efficiency variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "O" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance.) Labor efficiency variance
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