Japan Company produces lamps that require 3 standard hours per unit at an hourly rate of $11.60 per hour. Production of 6,700 units required 19,700 hours at an hourly rate of $11.30 per hour. Enter favorable variances as negative numbers. (a) Determine the direct labor rate variance. (b) Determine the direct labor time variance. (c) Determine the cost variance. %24

Question
Japan Company produces lamps that require 3 standard hours per unit at an hourly rate of $11.60 per hour. Production of 6,700 units
required 19,700 hours at an hourly rate of $11.30 per hour. Enter favorable variances as negative numbers.
(a) Determine the direct labor rate variance.
(b) Determine the direct labor time variance.
(c) Determine the cost variance.
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Transcribed Image Text

Japan Company produces lamps that require 3 standard hours per unit at an hourly rate of $11.60 per hour. Production of 6,700 units required 19,700 hours at an hourly rate of $11.30 per hour. Enter favorable variances as negative numbers. (a) Determine the direct labor rate variance. (b) Determine the direct labor time variance. (c) Determine the cost variance. %24