Marv Company's direct labor costs for manufacturing its only product were as follows for October: Standard direct labor hours per unit of product 2.0 Budgeted finished units for the period 6,800 Actual number of finished units produced 5,200 Standard wage rate per direct labor hour (SP)$28.00 Direct labor costs incurred$299,000 Actual wage rate per direct labor hour (AP)$26.00 The direct labor rate variance for October, rounded to the nearest dollar, was: Multiple Choice $23,000 favorable. $51,200 unfavorable. $2,200 unfavorable. $20,400 favorable. $30,800 unfavorable.

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Description: Marv Company's direct labor costs for manufacturing its only product were as follows for October: Standard direct labor hours per unit of product 2.0 Budgeted finished units for the period 6,800 Actual number of finished units produced 5,200 Stan

Actual wage rate per direct labor hour (AP) $ 26.00 Standard wage rate per direct labor hour…

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Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 7PB: Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid...

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Marv Company's direct labor costs for manufacturing its only product were as follows for October:


Standard direct labor hours per unit of product		2.0
Budgeted finished units for the period		6,800
Actual number of finished units produced		5,200
Standard wage rate per direct labor hour (SP)	$	28.00
Direct labor costs incurred	$	299,000
Actual wage rate per direct labor hour (AP)	$	26.00

The direct labor rate variance for October, rounded to the nearest dollar, was:

Multiple Choice

$23,000 favorable.
$51,200 unfavorable.
$2,200 unfavorable.
$20,400 favorable.
$30,800 unfavorable.

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