The following standards have been set for each test performed: Standard Hours Standard Price or Quantity 3 pounds 0.4 hours or Rate S0.75 per pound S12 per hour Dircct materials Direct labor. During March, Your Company performed 2,000 tests. •840 actual direct labor-hours were worked at a cost of $8,610. The labor rate (P) variance for March is: Enter a favorable variance as a positive number; an unfavorable variance as a negative number. ENTER YOUR ANSWER WITHOUT DOLLAR SIGNS OR OTHER DESCRIPTIONS.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The following standards have been set for each test performed:
Standard Hours
Standard Price
Direct materials
Direct labor
or Quantity
3 pounds
0.4 hours
or Rate
S0.75 per pound
S12 per hour
During March, Your Company performed 2,000 tests.
• 840 actual direct labor-hours were worked at a cost of $8,610.
The labor rate (P) variance for March is:
Enter a favorable variance as a positive number; an unfavorable variance as a negative number.
ENTER YOUR ANSWER WITHOUT DOLLAR SIGNS OR OTHER DESCRIPTIONS.
Transcribed Image Text:The following standards have been set for each test performed: Standard Hours Standard Price Direct materials Direct labor or Quantity 3 pounds 0.4 hours or Rate S0.75 per pound S12 per hour During March, Your Company performed 2,000 tests. • 840 actual direct labor-hours were worked at a cost of $8,610. The labor rate (P) variance for March is: Enter a favorable variance as a positive number; an unfavorable variance as a negative number. ENTER YOUR ANSWER WITHOUT DOLLAR SIGNS OR OTHER DESCRIPTIONS.
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