Annapolis Company completes job #601 which has a standard of 540 labor hours at a standard rate of $18.20 per hour. The job was completed in 500 hours and the average actual labor rate was $18.10 per hour. What is the labor efficiency (quantity) variance?

Where m is the slope of the line and b is the y-intercept of the line, or the y-coordinate of the point at which the line crosses the y-axis. to write an equation in slope-intercept form, given a graph of that equation, pick two points on the line and use them to find the slope. this is the value of m in the equation.

The answer is 49/16 or 3 1/16