GMeadowlark has a direct labor standard of 2.1 hours per unit of output. Each employee has a standard wage rate of $22.50 per hour. During July, Meadowlark paid $94,750 to employees for 4,445 hours worked. 2,200 units were produced during July. What is the direct labor efficiency variance?

The direct labor efficiency variance is $5,262.50.

Explanation:

Direct labor rate = (standard rate - actual rate)*actual hours worked

                            = ($22.50*4445) - $94750

                            = $5,262.50

Therefore, The direct labor efficiency variance is $5,262.50.

 $3,937.5 favorable

Explanation:

Labour  efficiency variance is the difference between the actual time taken to achieve a given production output less the standard hours allowed for same multiplied by the standard labour rate

Labour efficiency variance is determined as follows:

                                                                                        Hours

2,200 units should have taken (2,200 ×  2.1 hrs)             4620                

but did take                                                                        4,445

Efficiency variance ( in hours )                                          175  favorable .

× standard labour rate                                                       × $22.5

Labour efficiency  variance ($)                                      $3,937.5 favorable

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know