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Compute the direct labor rate variance

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Direct labor variances

A manufactured product has the following information for June.

  Standard Actual
  Direct materials (7 lbs. @ $8 per lb.)   58,700  lbs. @ $8.10 per lb.
  Direct labor (3 hrs. @ $16 per hr.)   24,600  hrs. @ $16.40 per hr.
  Overhead (3 hrs. @ $13 per hr.) $ 329,300  
  Units manufactured     8,300  

Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable.

Reference no: EM131299449

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