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Calculate the labor rate variance

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Reference no: EM132967782

At Espresso, the standard quantity of labor is22hours per refrigeration unit. The standard wage rate is $34. In July, the company produced86refrigeration units and incurred2,090labor hours at a cost of $71,060.

Problem 1: Calculate the labor rate variance and the labor efficiency variance. Indicate whether the variances are favorable or unfavorable.(Round intermediate calculations to 2 decimal places, e.g. 14.37 and final answers to 0 decimal places, e.g. 125. Enter all variances as a positive number.)

Reference no: EM132967782

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