Hofbauer Inc. has provided the following data concerning one of the products in

Question

Hofbauer Inc. has provided the following data concerning one of the products in its standard cost system. Standard Quantity or Hours Unit of Out 0.30 hours Price or Direct labor $21.00 per hour The company has reported the following actual results for the product for September Actual output Actual direct labor-hours Actual direct labor rate Actual direct labor cost 5,600 units 1,540 hours $ 21.40 per hour $32,956 The labor efficiency variance for the month is closest to: Multiple Choice $2.996 F $2,996 U $2.940 U

Explanation / Answer

Labor efficiency variance = 21*(1540-5600*0.3)= 2940 F

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