Question
Japan Company produces lamps that require 3 standard hours per unit at an hourly rate of $15.90 per hour. Production of 3,300 units required 9,700
Japan Company produces lamps that require 3 standard hours per unit at an hourly rate of $15.90 per hour. Production of 3,300 units required 9,700 hours at an hourly rate of $16.20 per hour. Enter favorable variances as negative numbers.
| (a) Determine the direct labor rate variance. | $ | Favorable or Unfavorable |
| (b) Determine the direct labor time variance. | $ | Favorable or Unfavorable |
| (c) Determine the cost variance. | $ | Favorable or Unfavorable |
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
7th edition
978-1118344262, 111834426X, 1118162285, 978-1118562208, 1118562208, 978-1118162286
