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Calculate the direct labour rate and efficiency variances

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Reference no: EM132953920

Hanson Inc. has the following direct labour standard to manufacture one Jerf: 1.5 standard hours per Jerf at $12.00 per direct labour hour

Last month 1,550 direct labour hours were worked at a total labour cost of $18,910 to make 1,000 Jerfs.

Problem 1: Calculate the direct labour rate and efficiency variances.

Problem 2: Describe the factors that managers may consider when assessing the significance of a variance. Why do we need to assess the significance of variances?

Reference no: EM132953920

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