8. Using the table below, calculate the labor efficiency variance: Standard - Planned Masks to Produce in January Standard Square Inches Per Cloth Mask Standard Price Per Square Inch Standard Direct Labor Hours Per Mask Standard Direct Labor Wage Per Hour Actual Purchased Square Inches of Cloth Actual Square Inches of Cloth Still in Inventory at End of Jan. Actual Price Per Square Inch Masks Produced in Jan. 8,000 masks 6 sq. inches $0.15 0.2 hours $17 30,000 sq. inches 5,000 sq. inches $0.14 6,000 masks Actual Direct Labor Hours Worked Actual Direct Labor Cost NSWER: $5,100U 1,500 hours $27,000 9. Using the table in Question 8 above, calculate the materials price variance. NSWER: $300F

A firm expected to spend $6 per hour for three hours of direct labor to manufacture one unit of inventory. The firm spent $5 per hour for four hours to make one unit of inventory. The unit direct labor price variance was Select one: a. $4 Favorable. b. $4 Unfavorable. c. $2 Unfavorable. d. $2 Favorable.

The equation for standard labor rate confuses me. Can you help?

A manufactured product has the following information for June.    Standard Quantity and Cost Actual Results Direct materials 6 pounds @ $8 per pound 45,500 pounds @ $8.20 per pound Direct labor 2 DLH @ $15 per DLH 14,600 hours @ $15.60 per hour Overhead 2 DLH @ $12 per DLH $ 186,100   Units manufactured   7,500 units   Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.)AH = Actual HoursSH = Standard HoursAR = Actual RateSR = Standard Rate