Rancho Cucamonga Inc. established the following direct materials and direct labor standards for its product.
Item
Price
Quantity
Total
Direct materials
$2
3 lbs
$6
Direct labor
2 hrs
$12
The firm expected to make, and made, ten (10) units of finished goods inventory. Use the table above to complete the following direct labor variance tables and to answer questions
Complete the following direct labor variance table. The left columns report the actual cost data.
Direct Labor Variances
Actual Price x Actual Quantity
Standard Price x Actual Quantity
$5hr x (3hrs x 10 units) = $150
$_ x (_ x _ ) = $_
Standard Price x Standard Quantity
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