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Venneman Company produces a product that requires 5 standard hours per unit at a standard hourly rate of $8.00 per hour. If 5,800 units required
Venneman Company produces a product that requires 5 standard hours per unit at a standard hourly rate of $8.00 per hour. If 5,800 units required 29,900 hours at an hourly rate of $7.84 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
a. Direct labor rate variance$fill in the blank 1FavorableUnfavorableb. Direct labor time variance$fill in the blank 3FavorableUnfavorablec. Total direct labor cost variance$fill in the blank 5FavorableUnfavorableStep by Step Solution
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