Motts Inc. has a standard cost system in which the standard direct labor for a particular product is 0.50 hours at the standard rate of $21.00 per hour. The company has reported the following actual results for the product for October:
Required:
a. Compute the labor rate variance for October.
b. Compute the labor efficiency variance for October.
Definitions:
Return Statement
A statement in programming that ends the execution of a function and optionally returns a value to the caller.
Static
A keyword in programming languages that indicates a member of a class is shared among all instances or is accessible without needing an instance.
Void Methods
Methods in programming that do not return a value after executing a set of statements.
One Parameter
Describes a function or method that takes exactly one argument or input value.
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