Using the following information relating to Royal One Company's operations for the month of July, 

1. Actual quantity of materials used11,000 pounds 
2. Standard quantity of materials used10,000 pounds 
3. Actual price of materials$4.00
4. Standard price of materials$3.80
5. Actual direct labor hours20,000
6. Standard direct labor hours21,000
7. Actual direct labor rate$7.50
8. Standard direct labor rate$7.00

Questions

Determine the labor rate variance.

Profit center managers are most often evaluated on the basis of:

A comparison of actual to standard costs Segment margin Return on investment Earnings per share

Answer rating: 100% (QA)

To determine the labor rate variance we use the following formula Labor Rat... View the full answer