Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on directlabor-hours and its standard cost card per unit is as follows:$ 55.00Direct material: 5 pounds at $11.00 per poundDirect labor: 3 hours at $12 per hourVariable overhead: 3 hours at $7 per hour36.0021.00Total standard variable cost per unit$112.00The company also established the following cost formulas for its selling expenses:Fixed CostVariable Costper Month$ 280,000$ 260,000per Unit SoldAdvertisingSales salaries and commissionsShipping expenses$ 20.00$ 11.00The planning budget for March was based on producing and selling 21,000 units. However, during March the companyactually produced and sold 26,600 units and incurred the following costs:a. Purchased 154,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production.b. Direct-laborers worked 63,000 hours at a rate of $13.00 per hour.c. Total variable manufacturing overhead for the month was $510,930.d. Total advertising, sales salaries and commissions, and shipping expenses were $286,000, $495,000, and $195,000,respectively.8. What is the direct labor rate variance for March? (Indicate the effect of each variance by selecting "F" for favorable, "U" forunfavorable, and "None" for no effect (i.e., zero variance.). Input the amount as a positive value.)Direct labor rate variance

Name: Preble Company manufactures one product. Its variable manufacturing o
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Description: Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on directlabor-hours and its standard cost card per unit is as follows:$ 55.00Direct material: 5 pounds at $11.00 per poundDirect labor: 3 ho

Labour rate variance is difference between standard cost of Actual Labour hours and actual labour…

Answered: 8. What is the direct labor rate…

Business

Accounting

8. What is the direct labor rate variance for March?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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