Standard Labor Rate and Labor Efficiency Variance Elof 's direct labor costs for the month of January follow:
|
Direct labor hourly rate paid
|
$30.00
|
|
Total standard direct labor hours for units produced this period
|
12,000
|
|
Direct labor hours worked
|
11,000
|
|
Direct labor rate variance
|
$33,000 favorable
|
Required Compute these:
1. Standard direct labor wage rate per hour in January.
2. Direct labor efficiency variance.