Need some help witht these questhions, i have goten them wrong, and really need

Question

Need some help witht these questhions, i have goten them wrong, and really need to get them right, and would love an explination, thanks

The following labor standards have been established for a particular product Standard labor-hours per unit of output Standard labor rate 9.3 hours $16.90 per hour ed The following data pertain to operations concerning the product for the last month Actual hours worked Actual total labor cost Actual output 9,990 hours $164,340 980 units What is the labor rate variance for the month? Multiple Choice $2.970 F

Explanation / Answer

Labour rate variance = Actual hours * (Actual Price-Standard price) Labour rate variance = 9,900 * (($164,340/9,900) - $16.90) Labour rate variance = $2,970 F Labour efficeincy variance = Standared rate * (Actual Hours - Standard Hours) Labour efficeincy variance = $13.10 * (7,100 - (1,000*9.30)) Labour efficeincy variance = $28,820 F Material Quantity variance = Standard Price * (Actual Quantity used - Standard Quantity) Material Quantity variance = $14.90 * (6,850 - (870*6.10)) Material Quantity variance = $22,991 U

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