Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) A manufactured product has the following information for June.StandardActual6 lbs. @ $7 per lb.3 hrs. @ $15 per hr.3 hrs. @ $11 per hr.Direct materials46,800 lbs. @ $7.20 per lb.22,900 hrs. @ $15.50 per hr.$259, 3007,700Direct laborOverheadUnits manufacturedExercise 21-10 Direct labor variances LO P3Compute the direct labor rate varlance and the direct labor efficiency variance. (Indicate the effect of each varlance by selecting forfavorable, unfavorable, and no varlance. Round "Rate per hour" answers to 2 decimal places.)AH = Actual HoursSH = Standard HoursAR = Actual RateSR = Standard RateActual CostStandard Cost$$$

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Description: Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Rate per hour" answers to 2 decimal places.) A manufactured produc

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Business

Accounting

direct labor rate variance and the direct labor efficiency variance

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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