Answer:
Direct labor rate variance= $650 unfavorable
Explanation:
Giving the following information:
Standards for the product are:
Labor: 2 hours per unit at $8 per hour.
During December, the company produced 1,000 units.
Labor: 2,500 hours worked at a total cost of $20,625.
To calculate the labor rate variance, we need to use the following formula:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Actual rate= 20,650/2,500= $8.26
Direct labor rate variance= (8 - 8.26)*2,500
Direct labor rate variance= $650 unfavorable
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Answer:
Asper Corporation has provided the following data for February. Denominator level of activity 7,700 machine-hours Budgeted fixed manufacturing overhead costs $ 266,420 Fixed component of the predetermined overhead rate $ 34.60 per machine-hour Actual level of activity 7,900 machine-hours Standard machine-hours allowed for the actual output 8,200 machine-hours Actual fixed manufacturing overhead costs $ 259,960 The budget variance for February is $6,460 Favorable.
Explanation:
Budgeted fixed manufacturing overhead cost = $266,420.
Actual fixed manufacturing overhead costs = $259,960
The budget variance for February is calculated as below:
Budget Variance = Actual Fixed Manufacturing Overheads - Budgeted Fixed Manufacturing Overheads
Budget Variance =$259,960 - $ 266,420.
Budget Variance = -$6,460
Budget Variance = $6,460 Favorable