A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard houra of direct labor for units produced 65,000 $ 15 $ 14 66,400 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable.

A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard houra of direct labor for units produced 65,000 $ 15 $ 14 66,400 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable.

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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A company reports the following information for its direct labor.
Actual hours of direct labor used
Actual rate of direct labor per hour
Standard rate of direct labor per hour
Standard hours of direct labor for units produced
65,000
$ 15
$ 14
66,400
AH = Actual Hours
SH = Standard Hours
AR = Actual Rate
SR = Standard Rate
Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable.

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