QS 21-11 (Algo) Direct labor rate and efficiency variances LO P3 A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced = AH Actual Hours 55,000 $ 15 $ 14 56,500 SH Standard Hours AR SR Actual Rate Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost $ 0 0 0 0 Standard Cost QS 21-11 (Algo) Direct labor rate and efficiency variances LO P3 A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH Actual Hours = = SH Standard Hours = AR Actual Rate SR Standard Rate = 55,000 $ 15 $ 14 56,500 Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost AR 0 SR 0 0 EA 0 Standard Cost A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced = AH Actual Hours = SH Standard Hours AR Actual Rate = SR Standard Rate 55,000 $ 15 $ 14 56,500 Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Direct labor efficiency variance Direct labor rate variance Direct materials price variance Direct materials quantity variance Total direct labor variance 0 0 0 Standard Cost Actual hours of direct labor used 55,000 Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH Actual Hours = $ 15 $ 14 56,500 SH Standard Hours = AR Actual Rate = SR Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. $ 0 $ 0 0 Favorable Unfavorable No variance EA $ 0