# rate / efficiency variance problems

Anonymous

Question description

 Problem 1-Budget Analysis Standard cost and price variance analysis A)  October data: Actual hours: 16,250 hours Standard hours: 5,600 units were budgeted at 3 hours per unit Actual labor costs: \$247,000 Standard labor rate: \$15.00 per hour Calculate the labor rate and efficiency variances as well as the overall labor variance for October. You must show the calculations to receive credit. Rate variance= X express in terms X express in numbers Efficiency variance= X express in terms X express in numbers Rate variance you must indicate if each one is favorable or unfavorable Efficiency variance then you must indicate if the overall if favorable or unfavorable Total variance B) November data: Actual hours: 22,000 hours Standard hours: 6,000 units were budgeted at 3 hours per unit Actual labor costs: \$335,000 Standard labor rate: \$15.00 per hour Rate variance= X express in terms X express in numbers Efficiency variance= X express in terms X express in numbers Rate variance you must indicate if each one is favorable or unfavorable Efficiency variance then you must indicate if the overall if favorable or unfavorable Total variance

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