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Milar Corporation makes a product with the following standard costs:
Standard Quantity or Hours Standard Price or Rate
Direct materials
8.0
pounds
$ 7.50
per pound
Direct labor
0.8
hours
$28.00
per hour
Variable overhead
$13.00
in January the company produced 3,390 units using 13,560 pounds of the direct material and 2,832 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $14,320. The actual direct labor cost was $78,888 and the actual variable overhead cost was $35,284.
The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.
Question 1: The labor rate variance for January is:
Multiple Choice
Option 1: $408 F
Option 2: $408 U
Option 3: $2,952 U
Option 4: $2,952 F
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