Homework Answers
Solution
| Labor rate variance | $ 6,284.00 | Favourable-F |
| Labor Efficiency variance | $ 8,820.00 | Favourable-F |
| Cost Variance | $ 15,104.00 | Favourable-F |
Working
| Actual DATA for | 5400 | Units | |
| Quantity (AQ) | Rate (AR) | Actual Cost | |
| Direct labor | 15710 | $ 17.60 | $ 276,496.00 |
.
| Standard DATA for | 5400 | Units | |
| Quantity (SQ) | Rate (SR) | Standard Cost | |
| [A] | [B] | [A x B] | |
| Direct labor | ( 3 Hour x 5400 Units)=16200 Hour | $ 18.00 | $ 291,600.00 |
.
| Labor Rate Variance | ||||||
| ( | Standard Rate | - | Actual Rate | ) | x | Actual Labor Hours |
| ( | $ 18.00 | - | $ 17.60 | ) | x | 15710 |
| 6284 | ||||||
| Variance | $ 6,284.00 | Favourable-F | ||||
| Labour Efficiency Variance | ||||||
| ( | Standard Hours | - | Actual Hours | ) | x | Standard Rate |
| ( | 16200 | - | 15710 | ) | x | $ 18.00 |
| 8820 | ||||||
| Variance | $ 8,820.00 | Favourable-F | ||||
| Labor cost Variance | ||||||
| ( | Standard Cost | - | Actual Cost | ) | ||
| ( | $ 291,600.00 | - | $ 276,496.00 | ) | ||
| 15104 | ||||||
| Variance | $ 15,104.00 | Favourable-F | ||||
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