Death Valley Bicycle Company manufactures mountain bikes. The following data for October of the current year are

Question:

Death Valley Bicycle Company manufactures mountain bikes. The following data for October of the current year are available:

Quantity of direct labor used 1,100 hrs.
Actual rate for direct labor $18.50 per hr.
Bicycles completed in October 350
Standard direct labor per bicycle 3 hrs.
Standard rate for direct labor $19.00 per hr.
Planned bicycles for October 375

Determine the direct labor rate and time variances.