Question

Lewis Company’s standard labor cost of producing one unit of Product DD is 3.8 hours at...

Lewis Company’s standard labor cost of producing one unit of Product DD is 3.8 hours at the rate of $10.9 per hour. During August, 41,500 hours of labor are incurred at a cost of $11.05 per hour to produce 10,800 units of Product DD.

(a)

Compute the total labor variance.

Total labor variance $

  Favorable   Neither favorable nor unfavorable   Unfavorable  


(b)

Compute the labor price and quantity variances.

Labor price variance $

  Neither favorable nor unfavorable   Unfavorable   Favorable  
Labor quantity variance $

  Favorable   Unfavorable   Neither favorable nor unfavorable  


(c)

Compute the labor price and quantity variances, assuming the standard is 4.1 hours of direct labor at $11.20 per hour.

Labor price variance $

  Unfavorable   Neither favorable nor unfavorable   Favorable  
Labor quantity variance $

  Unfavorable   Favorable   Neither favorable nor unfavorable  

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