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The standard cost of product 2525 includes 2.60 hours of direct labour at $14.40 per hour. The predetermined overhead rate is $20.00 per direct labour
The standard cost of product 2525 includes 2.60 hours of direct labour at $14.40 per hour. The predetermined overhead rate is $20.00 per direct labour hour. During July, the company incurred 6,340 hours of direct labour at an average rate of $14.70 per hour and $122,400 of manufacturing overhead costs. It produced 2,400 units. (a) Calculate the total, price, and quantity variances for labour. (Round per unit calculations to 2 decimal places, e.g. 1.25 and final answers to 0 decimal places, e.g. 125.)
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