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Compute the price variance and the quantity variance

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Question - The standard cost to produce Apple Fritters includes 3 hours of direct labor at $12.00 per hour. The predetermined overhead rate is $20.00 per direct labor hour. During July, the company incurred 3,500 hours of direct labor at an average rate of $12.25 per hour and $71,300 of manufacturing overhead costs. It produced 1,200 cases of Apple Fritters.

Required - Compute the price variance, the quantity variance, the total variance for labor. Indicate whether the variance is favorable or unfavorable.

Reference no: EM132532399

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