Bellingham Company produces a product that requires 8 standard direct labor hours per unit at a standard hourly rate of $14.00 per hour. If 5,600 units used 45,700 hours at an hourly rate of $14.28 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
a. Direct labor rate variance | $fill in the blank 1 | |
b. Direct labor time variance | $fill in the blank 3 | |
c. Direct labor cost variance | $fill in the blank 5 |
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