The following information pertains to William Company: Standard materials allowed $25,00 . Unfavorable materials price variance 3,000 Favorable materials usage variance 2,000 Actual payroll $30,000 Unfavorable labor rate variance 500 Unfavorable labor efficiency variance 2,500 What is the entry to record the direct labor cost and variances?
a. Payroll 30,000
Labor rate variance 500
Labor efficiency variance 2,500
Accrued payroll 33,000
b. Work in process 27,000
Labor rate variance 500
Labor efficiency variance 2,500
Payroll 30,000
c. Work in process 30,000
Payroll 30,000
d. Work in process 27,000
Labor variances 3,000
Payroll 30,000
b
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