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Calculate labor rate and efficiency variances

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Reference no: EM133168254

Question - At the start of 2021, Ceradyne Express Company determined its standard labor cost to be 2.10 hours per unit at $12.00 per hour. The budget for variable overhead was $8 per unit, and budgeted fixed overhead was $15,000 for the year. Expected annual production was 6,000 units. During 2021, the actual cost of labor was $15.39 per hour. Ceradyne Express produced 4,800 units requiring 12,600 direct labor hours. Actual overhead for the year was $49,650.

Required - Calculate labor rate and efficiency variances and the controllable overhead variance and the overhead volume variance.

Reference no: EM133168254

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