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The following data is given for the Harry Company: Budgeted production 1,054 units Actual production 965 units Materials: Standard price per ounce $1.84 Standard ounces
The following data is given for the Harry Company:
Budgeted production | 1,054 units |
Actual production | 965 units |
Materials: | |
Standard price per ounce | $1.84 |
Standard ounces per completed unit | 11 |
Actual ounces purchased and used in production | 10,297 |
Actual cost of materials | $21,109 |
Labor: | |
Standard hourly labor rate | $15.00 per hour |
Standard hours allowed per completed unit | 4.0 |
Actual labor hours worked | 4,969.75 |
Actual total labor costs | $75,789 |
Overhead: | |
Actual and budgeted fixed overhead | $1,059,657 |
Standard variable overhead rate | $24.00 per standard labor hour |
Actual variable overhead costs | $139,153 |
Overhead is applied on standard labor hours. |
Determine the direct labor rate variance.
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