Reems Corporation uses a standard cost system. Direct labor information for Product E for the month of November is as follows: Standard labor price                                                      P6.10 per hour Actual rate paid                                                             P6.00 per hour Standard quantity allowed for actual production              1,500 hours Labor efficiency variance                                               P600 unfavorable What is the actual hours worked? Round off to the nearest whole number. Group of answer choices 1,400 1,600 1,402 1,598

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter1: Introduction: What This Book Is About
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Reems Corporation uses a standard cost system. Direct labor information for Product E for the month of November is as follows:

Standard labor price                                                      P6.10 per hour

Actual rate paid                                                             P6.00 per hour

Standard quantity allowed for actual production              1,500 hours

Labor efficiency variance                                               P600 unfavorable

What is the actual hours worked? Round off to the nearest whole number.

Group of answer choices
1,400
1,600
1,402
1,598
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