Standard and actual costs for direct labor for the manufacture of 300 units of product were as follows:
Actual costs: 125 hours @ $54.00
Standard costs: 131 hours @ $53.00
Determine the direct labor:
(a) time variance
(b) rate variance
(c) total cost variance.

Question

Standard and actual costs for direct labor for the manufacture of 300 units of product were as follows: 
Actual costs: 125 hours @ $54.00 
Standard costs: 131 hours @ $53.00 
Determine the direct labor:
(a) time variance
(b) rate variance
(c) total cost variance.

Quizplus · Accepted Answer

The Answer of Standard and actual costs for direct labor for the manufacture of 300 units of product were as follows: 
Actual costs: 125 hours @ $54.00 
Standard costs: 131 hours @ $53.00 
Determine the direct labor:
(a) time variance
(b) rate variance
(c) total cost variance.

Standard and Actual Costs for Direct Labor for the Manufacture