The following data relate to labor cost for production of 4,600 cellular telephones: Actual: 3,130 hrs. at $14.70 Standard: 3,080 hrs. at $15.00 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance $fill in the blank 1 Time variance
The following data relate to labor cost for production of 4,600 cellular telephones: Actual: 3,130 hrs. at $14.70 Standard: 3,080 hrs. at $15.00 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance $fill in the blank 1 Time variance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following data relate to labor cost for production of 4,600 cellular telephones:
| Actual: | 3,130 hrs. at $14.70 |
| Standard: | 3,080 hrs. at $15.00 |
a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
| Rate variance | $fill in the blank 1 |
|
| Time variance | $fill in the blank 3 |
|
| Total direct labor cost variance | $fill in the blank 5 |
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