Direct Labor Variances

The following data relate to direct labor costs for the production of smart tablets.

Actual:	6,300 hrs. at $23.00	$144,900
Standard:	6,000 hrs. at $24.50	$147,000

a. Determine the rate variance, time variance, and total direct labor cost variance. Enter a favorable variance as a negative amount, and an unfavorable variance as a positive amount.

Rate variance	$	Favorable Variance
Time variance		Unfavorable Variance
Total direct labor cost variance	$	Favorable Variance