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 Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate

A-7

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For direct labor:a. Compute the actual direct labor cost per hour for the month.b. Compute the labor rate variance.   Julia Company uses a standard cost system in which manufacturing overhead is applied to units of product on the basis of standard machine-hours. At standard, each unit of product requires one machine-hour to complete. The standard variable overhead is $1.75 per machine-hour and Budgeted Fixed Manufacturing Costs are $300,000 per year. The denominator level of activity is 150,000 machine-hours, or 150,000 units. Actual data for the year were as follows:           Actual variable overhead cost $ 211,680   Actual fixed manufacturing overhead cost $ 315,000   Actual machine-hours   126,000   Units produced   120,000       Required: What are the predetermined variable and fixed manufacturing overhead rates for the year? Compute the variable overhead rate and efficiency variances for the year. Compute the fixed…