The following data are given for Harry Company: Budgeted production 1,054 units Actual production 937 units...
The following data are given for Harry Company:
| Budgeted production | 1,054 units |
| Actual production | 937 units |
| Materials: | |
| Standard price per ounce | $1.919 |
| Standard ounces per completed unit | 11 |
| Actual ounces purchased and used in production | 10,616 |
| Actual price paid for materials | $21,763 |
| Labor: | |
| Standard hourly labor rate | $14.76 per hour |
| Standard hours allowed per completed unit | 4.3 |
| Actual labor hours worked | 4,826 |
| Actual total labor costs | $78,423 |
| Overhead: | |
| Actual and budgeted fixed overhead | $1,025,000 |
| Standard variable overhead rate | $24.00 per standard labor hour |
| Actual variable overhead costs | $135,128 |
| Overhead is applied on standard labor hours. (Round interim calculations to the nearest cent.) | |
The direct labor rate variance is
a.$18,953.48 unfavorable
b.$7,190.74 unfavorable
c.$18,953.48 favorable
d.$7,190.74 favorable
Homework Answers
| Answer |
| Option B: $7,190.74 Unfavourable |
| Explanation |
| Direct labor rate variance = actual hours x (standard rate - actual rate) |
| 4826 x ($14.76 - $16.25) |
| $7,190.74 Unfavourable |
| Working Note |
| Actual rate = actual labor cost/actual hours |
| 78423 / 4826 |
| $16.25 per hour |
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