Information regarding Maxwell's direct labor cost for the month of January follows: Direct labor hourly rate paid Total standard direct labor hours for units produced this period Direct labor hours actually worked Direct labor rate variance Required: $ 30.30 12,800 12,600 $ 17,800 favorable. 1. Compute the standard direct labor wage rate per hour in January. (Round your answer to 2 decimal places.) 2. Compute the direct labor efficiency variance for January. Was this variance favorable or unfavorable? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) 1. Standard direct labor rate per hour 2. Direct labor efficiency variance

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Information regarding Maxwell's direct labor cost for the month of January follows:
Direct labor hourly rate paid
Total standard direct labor hours for units
produced this period
Direct labor hours actually worked
Direct labor rate variance
Required:
$ 30.30
12,800
12,600
$ 17,800 favorable
1. Compute the standard direct labor wage rate per hour in January. (Round your answer to 2 decimal places.)
2. Compute the direct labor efficiency variance for January. Was this variance favorable or unfavorable? (Do not round intermediate
calculations. Round your answer to the nearest whole dollar amount.)
1. Standard direct labor rate per hour
2. Direct labor efficiency variance
Transcribed Image Text:Information regarding Maxwell's direct labor cost for the month of January follows: Direct labor hourly rate paid Total standard direct labor hours for units produced this period Direct labor hours actually worked Direct labor rate variance Required: $ 30.30 12,800 12,600 $ 17,800 favorable 1. Compute the standard direct labor wage rate per hour in January. (Round your answer to 2 decimal places.) 2. Compute the direct labor efficiency variance for January. Was this variance favorable or unfavorable? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) 1. Standard direct labor rate per hour 2. Direct labor efficiency variance
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