Question: Problem 2 Solving for Unknowns Misterio Company uses a standard costing system. During the past quarter, the following variances were computed: Direct labor efficiency variance

Problem 2 Solving for Unknowns Misterio Company uses a standard costing system. During the past quarter, the following variances were computed: Direct labor efficiency variance Direct labor rate variance 111,600 U 13,950 U Three direct labor hours are allowed per unit produced. (Only one type of product is manufactured.) During the quarter, actual direct labor hours used was 69,750 hours. Misterio used 25 percent more direct labor hours than should have been used. Required: 1. What are the total hours allowed? 2. What is the standard hourly rate for direct labor? What is the actual hourly rate? 3. How many actual units were produced

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