James has the following information pertaining to its usage of direct labor in a recent period: Required:
1. Calculate the labor efficiency variance for the period.
2. Calculate the labor rate variance for the period.
3. Prepare, in proper form, the journal entry to record wage expense for the period, including any associated standard cost variances.

Question

James has the following information pertaining to its usage of direct labor in a recent period:  Required:
1. Calculate the labor efficiency variance for the period.
2. Calculate the labor rate variance for the period.
3. Prepare, in proper form, the journal entry to record wage expense for the period, including any associated standard cost variances.

Quizplus · Accepted Answer

The Answer of James has the following information pertaining to its usage of direct labor in a recent period:  Required:
1. Calculate the labor efficiency variance for the period.
2. Calculate the labor rate variance for the period.
3. Prepare, in proper form, the journal entry to record wage expense for the period, including any associated standard cost variances.

James Has the Following Information Pertaining to Its Usage of Direct