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What is the price variance for direct labor

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Reference no: EM132565190

Loden is a local dress shop that makes casual dresses in fun prints. Below is some actual vs. budget information for Loden's dresses for the month of May. Assume no beginning/ending inventories for simplicity. The cost-allocation base for both variable and fixed overhead is direct labor-hours.

Data for the Month of May                    Static                     Actual Budget#

Dresses made and sold                           2,600                      2,400

Selling price per dress                                $39                            $40

Yards of fabric per dress                              2.93

Cost per yard of fabric                                $3.84                         $3.66

Time in hours to sew one dress                          10.9

Cost of direct labor (per hour)                                  $14                         $15

Variable overhead costs                                        $3,500                      $3,000(utilities, sewing machine maintenance, etc.)

Fixed overhead costs                                             $4,900                         $4,800(store rent, insurance, etc.)

Question 1: What is the price variance for direct labor?

a. $2,600 F

b. $2,340 F

c. $2,600 U

d. $2,340 U

Reference no: EM132565190

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