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Reporting the efficiency ad rate variances

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Question - For the stamping department of a manufacturing fir, the standard cost for direct labor is $ 20 per hour, and the production standard calls for 2.000 stamping per hour. During February, 164 hours were required for actual production of 370,000 stampings. Actual direct labor cost for the stamping department for June was $ 2,870.

Required -

a) Complete the following performance report for February, Direct labor on flexed budget, actual and variance.

b) Calculate the direct labor efficiency and rate variances for February.

c) Reporting the efficiency ad rate variances to the appropriate managers could improve control over the stamping department's direct labor.

Reference no: EM133007653

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