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What is the direct labor cost variance

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Reference no: EM132472504

Problem 1: Tip Top Corp. produces a product that requires 3 standard hours per unit at a standard hourly rate of $18 per hour. If 5,600 units required 16,100 hours at an hourly rate of $18.9 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Reference no: EM132472504

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