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Calculate the labor rate variance and the labor efficiency

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Reference no: EM132797445

At Richetti, the standard quantity of labor is 24 hours per refrigeration unit. The standard wage rate is $34. In July, the company produced 82 refrigeration units and incurred 2,110 labor hours at a cost of $69,630.

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: EM132797445

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