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The following labor standards have been established for a particular product: Standard labor-hours per unit of...

The following labor standards have been established for a particular product:

Standard labor-hours per unit of output 9.2 hours
Standard labor rate $ 16.40 per hour

The following data pertain to operations concerning the product for the last month:

Actual hours worked 9,400 hours
Actual total labor cost $ 151,340
Actual output 930 units

What is the labor rate variance for the month?

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Answer #1
Standard labor-hours per unit of output 9.2 hours
Standard labor rate $ 16.40 per hour
Actual hours worked 9,400 hours
Actual total labor cost $ 151,340
Actual output 930 units

Actual rate = Actual cost of labor used/Actual time used

= 151,340/9,400

= $16.10 per hour

Direct labor rate variance = Actual time x (Standard rate - Actual rate)

= 9,400 x (16.40 - 16.10)

= $2,820 (Favorable)

Labor rate variance for the month = $2,820 (Favorable)

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