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Direct Labor Variances Tip Top Corp. produces a product that requires 5.0 standard hours per unit at a standard hourly rate of $13.00 per hour.

Direct Labor Variances

Tip Top Corp. produces a product that requires 5.0 standard hours per unit at a standard hourly rate of $13.00 per hour. If 3,000 units required 14,200 hours at an hourly rate of $13.65 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

a. Direct labor rate variance $ SelectFavorableUnfavorable
b. Direct labor time variance $ SelectFavorableUnfavorable
c. Direct labor cost variance $ SelectFavorableUnfavorable

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