Question

Lewis Company’s standard labor cost of producing one unit of Product DD is 3.70 hours at the rate of $10.60 per hour. During August, 40,400 hours of labor are incurred at a cost of $10.75 per hour to produce 10,800 units of Product DD. (a) Compute the total labor variance. Total labor variance $enter the Total labor variance in dollars select an option (b) Compute the labor price and quantity variances. Labor price variance $enter a dollar amount select an option Labor quantity variance $enter a dollar amount select an option (c) Compute the labor price and quantity variances, assuming the standard is 4.10 hours of direct labor at $10.95 per hour. Labor price variance $enter a dollar amount select an option Labor quantity variance

Answer 1