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Variance
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Becton Labs, Inc. produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity Standard Price or Rate Standard Cost ...
How do you find Actual Price for labor rate variance when it's not given?
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The question asks for labor rate and labor efficiency variance. Also to find total actual payroll. It does not give the actual price and I don't know how to find it. Actual price:?? Actual quantity: 270 labor hours Standard price: $45 per hour Standard quantity: 300 labor hours
What is the formula to find spending variance
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