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Please add calculations. TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following
Please add calculations.
TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Standard Quantity 12 pounds 0.30 hour Standard Price $ 2.00 per pound $ 8.80 per hour Direct Materials Direct Labor Standard Cost $24.00 2.64 $26.64 During November, TaskMaster purchased 140,000 pounds of direct materials at a total cost of $308,000. The total factory wages for November were $48,000, 90% of which were for direct labor. TaskMaster manufactured 21,000 units of product during November using 247,000 pounds of direct materials and 5,000 direct labor hours. Is the direct labor rate variance favorable or unfavorable? Favorable UnfavorableStep by Step Solution
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