Direct Labor Variances

Corpus Christi Bicycle Company manufactures commuter bicycles from recycled materials. Corpus Christi Bicycle Company records standard costs in its accounts, The following data for March are available:

Quantity of direct labor used $410hrs.$

Actual rate for direct labor $$11\mathrm{.}00$ per hr$.$

Bicycles completed in March $190$ bicycles

Standard direct labor per bicycle

$2hrs.$

Standard rate for direct labor $$11\mathrm{.}20$ per hr$.$

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

a$.$ Determine for March the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

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