The standard cost of product 2525 includes 1.9 hours of direct labour at $14.00 per hour. The
Question:
The standard cost of product 2525 includes 1.9 hours of direct labour at $14.00 per hour. The predetermined overhead rate is $22.00 per direct labour hour. During July, the company incurred 4,100 hours of direct labour at an average rate of $14.30 per hour and $81,300 of manufacturing overhead costs. It produced 2,000 units.
Instructions
(a) Calculate the total, price, and quantity variances for labour.
(b) Calculate the total overhead variance.
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Step by Step Answer:
a TLV AH AR SHA SR TLV 4100 1430 2000 19 1400 5430U b Total overhead variance 81300 83...View the full answer
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Related Book For 
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118856994
4th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
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