QS 21-11 (Algo) Direct labor rate and efficiency variances LO P3 A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH Actual Hours 60,000 $ 15 $ 14 61,400

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QS 21-11 (Algo) Direct labor rate and efficiency variances LO P3
A company reports the following information for its direct labor.
Actual hours of direct labor used
Actual rate of direct labor per hour
Standard rate of direct labor per hour
Standard hours of direct labor for units produced
AH
Actual Hours
SH = Standard Hours
AR = Actual Rate
SR
Standard Rate
60,000
$ 15
$ 14
61,400
Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable.
Actual Cost
$
0
$
0
0
$
0
Standard Cost
Transcribed Image Text:QS 21-11 (Algo) Direct labor rate and efficiency variances LO P3 A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH Actual Hours SH = Standard Hours AR = Actual Rate SR Standard Rate 60,000 $ 15 $ 14 61,400 Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost $ 0 $ 0 0 $ 0 Standard Cost
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