Chapter 7 - BB exercise No. 2 - Practice Question no 1 MSU makes blue jean jackets. The standard...
Chapter 7 - BB exercise No. 2 - Practice Question no 1
MSU makes blue jean jackets. The standard costs per jacket are as follows:
Budgeted Qty Budgeted Price
Direct Material .20 $ 60.00 per yard
Direct Labor .10 $ 30.00 per hour
MSU produced and sold 10,000 jackets using 1,000 yards of direct materials at a cost of $ 64.00 per yard and 500 hours of direct labor at a wage of $ 30.50 per hour.
What is the direct manufacturing labor efficiency variance? Also, is the variance favorable or unfavorable?
Homework Answers
Labor efficiency variance = (SH-AH) * SR
= (10,000*0.10 - 500) * 30
= (1000-500) * 30
= 1500 Favourable
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Chapter 7 - BB exercise No. 2 -
Practice Question no 1
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