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Compute the direct labor rate and efficiency variances

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Reference no: EM133099433

Question - A company reports the following information for its direct labor.

Actual hours of direct labor used 58,000

Actual rate of direct labor per hour $15

Standard rate of direct labor per hour $14

Standard hours of direct labor for units produced 59,700

AH = Actual Hours

SH = Standard Hours

AR = Actual Rate

SR = Standard Rate

Required - Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable.

Reference no: EM133099433

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