Two well-known Hall-like effects occur in ferromagnets: the anomalous Hall effect (AHE) and the planar Hall effect (PHE). AHE is analogous to the classical Hall effect and is characterized by the antireciprocal Onsager relation (antisymmetric conductivity matrix), whereas PHE is defined by the reciprocal Onsager relation (symmetric conductivity matrix). The distinction is fundamental, as it stems from time-reversal symmetry breaking at the microscopic scale. We examine theoretically the Hall current generated in both AHE and PHE, along with the electric power that can be transferred from the edges of the Hall bar into a load circuit. Using a variational method based on the second law of thermodynamics, we derive expressions for the distribution of the electric currents, the distribution of electric carriers, and the power efficiencies. Our results show that the distribution of the transverse Hall current is identical for both AHE and PHE (with all other parameters being equals) but the longitudinal current and the power dissipated differ at the second order in the Hall angle.