Crane Company's standard labor cost of producing one unit of Product DD is 3.00 hours at the rate of $12.60 per hour. During August, 40,500 hours of labor are incurred at a cost of $12.75 per hour to produce 13,300 units of Product DD. (a) Compute the total labor variance. Total labor variance $ (b) Compute the labor price and quantity variances. Labor price variance $ Labor quantity variance $ (c) Compute the labor price and quantity variances, assuming the standard is 3.2 hours of direct labor at $12.85 per hour. Labor price variance $ Labor quantity variance $
Crane Company's standard labor cost of producing one unit of Product DD is 3.00 hours at the rate of $12.60 per hour. During August, 40,500 hours of labor are incurred at a cost of $12.75 per hour to produce 13,300 units of Product DD. (a) Compute the total labor variance. Total labor variance $ (b) Compute the labor price and quantity variances. Labor price variance $ Labor quantity variance $ (c) Compute the labor price and quantity variances, assuming the standard is 3.2 hours of direct labor at $12.85 per hour. Labor price variance $ Labor quantity variance $
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 1PB: Direct materials and direct labor variance analysis Lenni Clothing Co. manufactures clothing in a...
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