The following data is given for the Harry Company: Determine the direct labor ti

Question

The following data is given for the Harry Company:

Determine the direct labor time variance.

Select the correct answer.

Budgeted production 1,063 units Actual production   963 units Materials:     Standard price per ounce $1.89     Standard ounces per completed unit 11      Actual ounces purchased and used in production 10,275     Actual price paid for materials $21,064 Labor:     Standard hourly labor rate $15.00 per hour     Standard hours allowed per completed unit 5.0      Actual labor hours worked 4,959     Actual total labor costs $75,625 Overhead:     Actual and budgeted fixed overhead $1,155,028     Standard variable overhead rate $25.00 per standard labor hour      Actual variable overhead costs $138,852 Overhead is applied on standard labor hours.

Explanation / Answer

c. $2,160 U

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