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Lewis Companys standard labor cost of producing one unit of Product DD is 3.90 hours at the rate of $13.00 per hour. During August, 42,000
Lewis Companys standard labor cost of producing one unit of Product DD is 3.90 hours at the rate of $13.00 per hour. During August, 42,000 hours of labor are incurred at a cost of $13.20 per hour to produce 10,600 units of Product DD.
Total labor variance. Labor price variance
Labor quantity variance Compute the labor price and quantity variances, assuming the standard is 4.20 hours of direct labor at $13.40 per hour.
Labor price variance
Labor quantity variance
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