accounting help accountsguru only 1
Lewis Company’s standard labor cost of producing one unit of Product DD is 3.20 hours at the rate of $11.00 per hour. During August, 42,800 hours of labor are incurred at a cost of $11.16 per hour to produce 13,200 units of Product DD.
(a) Compute the total labor variance.
| Total labor variance | $ |
(b) Compute the labor price and quantity variances.
| Labor price variance | $ |
|
| Labor quantity variance | $ |
(c) Compute the labor price and quantity variances, assuming the standard is 3.52 hours of direct labor at $11.36 per hour.
| Labor price variance | $ |
|
| Labor quantity variance | $ |
