The Morristown Manufacturing Company incurred $60,500 of direct labor cost in its machine shop during the month of June. This cost was the result of 5,910 direct labor hours worked to produce 2,000 units of product.The direct labor quantity standard is 3 direct labor hours per unit, and the direct labor price standard is $10 per direct labor hour.

Required: (|) Compute the direct labor price variance.

(2) Compute the standard direct labor hours budgeted.

(3) Compute the direct labor efficiency variance.

(4) Using T-accounts, prepare the entry to record the wages incurred for direct labor.

 TKY-1