Hapjack Corporation had 7,704 actual direct labor hours at an actual rate were actually produced. Labor standards were 7.3 hours per completed u Round your answer to the nearest cent. The direct labor time variance is a $2,12630 unfavorable b. $2,126.30 favorable Oc. 38,394.78 unfavorable d. 51,594.78 varable

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Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.