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1. Efficient Corporation uses a standard cost system. The following information was provided for the period that just ended: Actual price per gallon Actual gallons
1. Efficient Corporation uses a standard cost system. The following information was provided for the period that just ended: Actual price per gallon Actual gallons of material used Actual hourly labor rate Actual hours of production Standard price per gallon Standard gallons per completed unit Standard hourly labor rate Standard time per completed unit Units completed during the period Required: Compute direct labor RATE variance Compute direct labor TIME variance Compute TOTAL direct labor variance $11.75 5,000 $17.00 24,300 $12.00 1/2 $12.00 3 hrs. 9,000 . . O
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