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What is the direct labor cost? variance

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Home Decor Company manufactures special metallic materials for luxury homes that require highly skilled labor. Home Decor uses standard costs to prepare its flexible budget.

For the first quarter of the? year, direct materials and direct labor standards for one of their popular products were as? follows:

Direct? materials: 2 pounds per unit $3 per pound

Direct? labor: 5 hours per? unit $14 per hour

Home Decor produced 5,000 units during the quarter. At the end of the? quarter, an examination of the labor costs records showed that the company used 30,000 direct labor hours and actual total direct labor costs were $372,000.

Question 1: What is the direct labor cost? variance? (Round any intermediate calculations to the nearest? cent, and your final answer to the nearest? dollar.)

Reference no: EM132579527

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