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Determine the labor price variance at Favorable

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Reference no: EM132979094

Question - The Russell Company provides the following standard cost data per unit of product:

Materials (4 gallons @ $6 per gallon) $24

Labor (3 hours @ $10 per hour) $30

During the period, the company produced and sold 20,000 units incurring the following costs:

Materials 82,000 gallons @ $5.90 per gallon

Labor 62,000 hours @ $ 9.75 per hour

Determine the labor price variance at "Favorable" or "Unfavorable".

a. $16,000 U

b. $15,500 F

c. $ 17,000 F

d. $13,500 U

Reference no: EM132979094

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