Solve the Following:

 

Direct materials Direct labor Variable overhead. Standard Quantity or Hours 6.4 ounces 0.4 hours 0.4 hours Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours The company reported the following results concerning this product in February. Purchases of raw materials. Actual price of raw materials Actual direct labor rate Actual variable overhead rate Standard Standard Price or Cost Per Unit $19.20 $ 5.20 $ 2.00 The labor rate variance for February is: Rate $ 3.00 per ounce $13.00 per hour $ 5.00 per hour 4,800 units 4,900 units 30,230 ounces 1,910 hours 32,600 ounces $ 2.90 per ounce $ 12.40 per hour $ 4.90 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.