In a certain standard costing system, the following results occurred last period: total labor variance, 2000 F; labor efficiency variance, 2,800 F; and the actual labor rate was $.20 more per hour than the standard labor rate. The number of direct labor hours used last period was

Given the following information in standard costing:   Standard 18,200 hours at $6.20 Actual 18,000 hours at $6.00   What is the direct labor rate variance?

A. What percentage of the variation in overhead costs is explained by the independent variable? B. What is the total overhead cost for an estimated activity level of 50,000 direct labor hours? C. How much is the variable manufacturing cost per unit, using the variable overhead estimated by the regression (assuming that direct materials and direct labor are variable costs)? D. What is the expected contribution margin per unit to be earned during the first year on 20,000 units of the new product? (Assume that all marketing and administrative costs are fixed.) E. What is the manufacturing cost equation implied by these results?

A manager prepared the following table by which to analyze labor costs for the month: Actual hours at Actual rate is P10,000; Actual hours at Standard rate is P9,800 and Standard hours at Standard rate, P 8,820. What variance is P1,180? * idle labor variance labor efficiency variance labor spending variance total labor variance