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Lewis Company's standard labor cost of producing one unit of Product DD is 3.20 hours at the rate of $13.80 per hour. During August, 41,200
Lewis Company's standard labor cost of producing one unit of Product DD is 3.20 hours at the rate of $13.80 per hour. During August, 41,200 hours of labor are incurred at a cost of $14,00 per hour to produce 12,600 units of Product DD. (a) Compute the total labor variance. Total labor variance $ (b) Compute the labor price and quantity variances. Labor price variance Labor quantity variance 5 (c) Compute the labor price and quantity variances, assuming the standard is 3.60 hours of direct iabor at $14.10 per hour
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