Credit labor efficiency variance for 25000debit labor rate


Ramona Company has the following labor-related data.

Standard labor hours for output: 15,000 hours
Standard labor rate: $10 per hour
Actual labor rate: $8 per hour
Actual labor hours: 17,500 hours
Given these data, which ONE of the following would be included in the single journal entry needed to record Wages Payable and the labor variances?

Credit Labor Efficiency Variance for $25,000Debit Labor Rate Variance for $35,000Credit Wages Payable for $175,000Debit Work-In-Process Inventory for $140,000Credit Labor Rate Variance for $10,000Credit Labor Rate Variance for $35,000

Credit Labor Efficiency Variance for $10,000

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Accounting Basics: Credit labor efficiency variance for 25000debit labor rate
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