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The following data is given for the Harry Company: Budgeted production 1,020 units Actual production 911 units Materials: Standard price per ounce $1.76 Standard ounces
The following data is given for the Harry Company:
Budgeted production | 1,020 units |
Actual production | 911 units |
Materials: | |
Standard price per ounce | $1.76 |
Standard ounces per completed unit | 10 |
Actual ounces purchased and used in production | 8,837 |
Actual cost of materials | $18,116 |
Labor: | |
Standard hourly labor rate | $15.00 per hour |
Standard hours allowed per completed unit | 4.0 |
Actual labor hours worked | 4,692 |
Actual total labor costs | $71,553 |
Overhead: | |
Actual and budgeted fixed overhead | $1,016,631 |
Standard variable overhead rate | $25.00 per standard labor hour |
Actual variable overhead costs | $131,376 |
Overhead is applied on standard labor hours. |
Determine the direct labor rate variance.
Select the correct answer.
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