Marv Company's direct labor costs for manufacturing its only product were as follows for October: Standard direct labor hours (DLHs) per unit of product2.0Budgeted finished units for the period6,700Actual number of finished units produced5,500Standard wage rate per direct labor hour (SP)$ 27.00Direct labor costs incurred$ 300,000Actual wage rate per direct labor hour (AP)$ 25.00 The direct labor rate variance for October was:

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Answered: Marv Company's direct labor costs for…

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter2: Job Order Costing

Section: Chapter Questions

Problem 2BE: Direct labor costs During May, Bergan Company accumulated 2,500 hours of direct labor costs on Job...

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Marv Company's direct labor costs for manufacturing its only product were as follows for October:

Standard direct labor hours (DLHs) per unit of product	2.0
Budgeted finished units for the period	6,700
Actual number of finished units produced	5,500
Standard wage rate per direct labor hour (SP)	$ 27.00
Direct labor costs incurred	$ 300,000
Actual wage rate per direct labor hour (AP)	$ 25.00