Riko companys standard labour cost of producing one unit of

Reference no: EM13568169

Riko Company's standard labour cost of producing one unit of product KK is 3.10 hours at the rate of $10.00 per hour. During August, 41,658 hours of labour are incurred at a cost of $10.20 per hour to produce 13,100 units of product KK.

a) Calculate the total labour variance.

b) Compute the labor price and quantity variances.
Labor price variance $________ Favorable/Unfavorable
Labor quantity variance $_______ Favorable/Unfavorable

Reference no: EM13568169

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