Question: Computing labor variances Fill in the missing figures for each of the following independent cases. (Round all rates to the nearest cent and round all

Computing labor variances Fill in the missing figures for each of the following independent cases. Case 1 Case 2 Units produced Standard hours per unit Standard hours

(Round all rates to the nearest cent and round all totals to the nearest dollar.)

Case 1 Case 2 Units produced Standard hours per unit Standard hours allowed 1,200 7 2 0.6 1,200 Standard rate per hour $ 5 27 Actual hours used 2,340 1,220 Actual labor cost 4.837 Labor rate variance $725U $290U Labor efficiency variance ? $ 40U

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