1.
Please answer the blank parts
Solution
1)Labor variance = Standard rate (actual hours -standard hours)
= 23 (81900 - [700*40*3])
= 23( 81900 -84000)
=23*-2100
=$ 48,300(UF)
2)Labor variance = 23 ( 88900 - 84000)
= 23* 4900
= $ 112,700 (F)
3)labor Rate variance = 88900 [ 30 -23 ]
= 88900 * 7
= 622,300(UF)
4)Labor time variance = 23 ( 88900 -[700*40*4])
= 23 (88900-112,000)
= 23*23100
= 531,300 (UF)