12 Assume the following information appears in the standard cost card for a company that makes only one product: Standard Quantity or Hours 5 pounds 2 hours 2 hours Direct materials Direct labor Variable manufacturing overhead Standard Price or Rate $11.00 per pound $16.60 per hour $ 3.00 per hour points Standard Cost $55.00 $33.20 $ 6.00 During the most recent period, the following additional information was available: 20,000 pounds of material was purchased at a cost of $10.50 per pound. All of the material that was purchased was used to produce 3,900 units. 8,000 direct labor-hours were recorded at a total cost of $132,000. What is the direct labor rate variance? Multiple Choice $400 F $400 U O $800 F 13 Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year: 1 points Actual fixed overhead cost for the year Budgeted direct labor-hours Actual direct labor-hours Standard direct labor-hours allowed for the actual output Fixed overhead budget variance $276,000 60,000 56,000 58,000 $ 24,000 F Skipped eBook How much fixed overhead cost was applied to production? Print Multiple Choice References $290,000 O $280,000 $243,600 O $256.600 14 Assume the following information (the quantity of materials purchased = the quantity used): 1 points Actual total cost of direct materials Direct materials price variance Standard quantity of materials allowed per unit Standard price per pound of material Standard rate per direct labor hour Actual total direct labor hours Direct labor efficiency variance Standard number of direct labor hours allowed per unit Direct labor spending variance $65,560 $ 5,960 U 3 lbs. $ 4.00 $ 5.00 6,500 $ 3,500 F Skipped eBook 2 hours $ 400 U Print What is the actual hourly rate (AR) for direct labor? References Multiple Choice $5.20 $5.40 $5.60 $5.80