Mackie Corp has developed the following standards with respect to the budgeted labor associated with the production of 1

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Mackie Corp Has Developed The Following Standards With Respect To The Budgeted Labor Associated With The Production Of 1 1 (25.4 KiB) Viewed 40 times

Mackie Corp has developed the following standards with respect to the budgeted labor associated with the production of 1,500 left- handed widgets in May: 1.5 standard hours per widget $8.00 wage per hour According to the actual May production report, 1,200 left-handed widgets were produced. The production of these 1,200 widgets required 1,450 direct labor hours at a cost of $11,890. Show all of your work in determining the following: 1. What was Mackie's labor rate variance (provide the amount as well as whether the variance was favorable (F) or unfavorable (U)? 2. What was Mackie's labor efficiency variance (provide $ as well as whether the variance was favorable (F) or unfavorable (U)? 3. Prepare the journal entry to record the direct labor activity for the month of May.