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Find the labor and variable overhead price

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Reference no: EM131802408

Question - Variable cost variances: Sills, Inc.

The following data reflect the current month's activity for Sills, Inc.

Actual total direct labor.................................................................................. $546,000

Actual hours worked............................................................................................ 26,000

Standard labor-hours allowed for actual output (flexible budget.................27, 000

Direct labor price variance................................................................................... $19,500U

Actual variable overhead..................................................................................... $132,600

Standard variable overhead rate per standard direct labor-hour................. $5.25

Variable overhead is applied based on standard direct labor-hours allowed.

Required: Compute the labor and variable overhead price and efficiency variances. Show calculations.

Reference no: EM131802408

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