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Austin Music manufactures harmonicas. Austin uses standard costs to judge performance. Recently, a clerk mistakenly threw away some of the records, and only partial data for February exist. Austin knows that the total direct labor variance for the month was $370 F and that the standard labor rate was $8 per hour. A recent pay cut caused a favorable labor rate variance of $0.30 per hour. The standard direct labor hours for actual February outputs were 5,340. Read the requirements. Requirement 1. Find the actual number of direct labor hours worked during February. First, find the actual direct labor price rate per hour. Then, determine the actual number of direct labor hours worked by setting up the computation of the total direct labor variance as given. Select the formula, then calculate the actual price per hour. Standard direct labor rate per hour 1-1 = Actual direct labor rate per hour Favorable labor rate variance 0 .30 1 7.7 Determine the actual number of direct labor hours worked by setting up the computation of the total direct labor variance as given. (Enter the known amounts, then determine the missing amounts to solve for the actual direct labor hours. Enter the amounts as positive numbers. Label the variance as favorable (F) or unfavorable (U).) Austin Music Schedule to Compute Actual Direct Labor Hours Flexible budget for actual output Flexible budget variance Actual Direct labor hours Cost per hour Total direct labor cost Flexible budget variance Requirement 2. Compute the direct labor rate and efficiency variances. Do these variances suggest that the manager may have made trade-offs? Explain. (Enter the variances as positive numbers. Enter currency amounts to the nearest cent and your answers to the nearest whole dollar. Label the variances as favorable (F) or unfavorable (U). Abbreviations used: DL = Direct labor.) Begin by determining the formula for the price variance, then compute the price variance for direct labor. Actual hours Actual rate Standard rate J) = DL rate variance DL rate var 1300.78 F 5502.60 x 7.7 8 ) = Now determine the formula for the efficiency variance, then compute the efficiency variance for direct labor. Standard rate Actual hours Standard hours allowed 5340 = ) = DL efficiency variance 1300.810 8 x 5502.60 - Do these variances suggest that the manager may have made trade-offs? Explain. The direct labor rate variance combined with the direct labor efficiency variance suggests that the manager may have used workers. However, due to the overall net effect, it appears there was pears there was Choose from any list or enter any number in the input fields and then continue to the next question. 2