Job #305 was budgeted to require 3.5 hours of labor at $11.00 per hour. However, it was completed in 3 hours by a person who worked for $14.00 per hour.
(a) What is the total labor cost variance for Job #305?
(b) Calculate the direct labor rate and efficiency variance for this job.

Question

Job #305 was budgeted to require 3.5 hours of labor at $11.00 per hour. However, it was completed in 3 hours by a person who worked for $14.00 per hour.
(a) What is the total labor cost variance for Job #305? 
(b) Calculate the direct labor rate and efficiency variance for this job.

Quizplus · Accepted Answer

The Answer of Job #305 was budgeted to require 3.5 hours of labor at $11.00 per hour. However, it was completed in 3 hours by a person who worked for $14.00 per hour.
(a) What is the total labor cost variance for Job #305? 
(b) Calculate the direct labor rate and efficiency variance for this job.

Job #305 Was Budgeted to Require 3