Answered Essay: The following data is given for the Harry Company: Overhead is applied on standard labor hours. (Round interim calculations to the nearest cent.) The direct labor rate variance

gageNOWV2 | Onlir × Q Managerial Chapter 23 Flas + w.com/ilrn takeAssignment/takeAssignmentMain.do?inprogress=true Calculator The following data is given for the Harry Company: Budgeted production Actual production Materials: 1,063 units 928 units Standard price per ounce Standard ounces per completed unit Actual ounces purchased and used in production Actual price paid for materials $1.883 12 11,470 $23,513 Labor: Standard hourly labor rate Standard hours allowed per completed unit Actual labor hours worked Actual total labor costs $14.28 per hour 4.5 4,779 $77,659 Overhead $1,005,000 $25.00 per standard labor hour $133,812 Overhead is applied on standard labor hours. (Round interim calculations to the nearest cent.) Actual and budgeted fixed overhead Standard variable overhead rate Actual variable overhead costs The direct labor rate variance is $9,414.63 favorable $18,025.72 unfavorable o $18,025.72 favorable O $9,414.63 unfavorable All work saved.

The following data is given for the Harry Company: Overhead is applied on standard labor hours. (Round interim calculations to the nearest cent.) The direct labor rate variance is $9,414.63 favorable $18,025.72 unfavorable $18,025.72 favorable $9,414.63 unfavorable

Expert Answer

 

standard total labor cost at actual level of production actual total labor cost direct labor rate variance = standard total direct labor cost-actual total direct labor cost
standard total labor cost at actual level of production = units produced*standard rate*standard hours 928*4.5*14.28 59633.28
actual total direct labor cost 77659
direct labor rate variance = standard total direct labor cost-actual total direct labor cost 59633.28-77659 -18025.7 Unfavorable
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