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Compute the direct labor rate variance

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Reference no: EM131800168

A manufactured product has the following information for June.

Standard Actual
  Direct materials (6 lbs. @ $8 per lb.)   49,700  lbs. @ $8.10 per lb.
  Direct labor (2 hrs. @ $17 per hr.)   16,200  hrs. @ $17.40 per hr.
  Overhead (2 hrs. @ $12 per hr.) $ 202,700  
  Units manufactured     8,200  

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

Reference no: EM131800168

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