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Penny Company manufactures only one product and uses a standard cost system. The following information...

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Accounting

Penny Company manufactures only one product and uses a standard cost system. The following information is from Pennys records for May:

Direct labor rate variance $13,000 favorable
Direct labor time variance $28,800 unfavorable
Standard hours per unit produced 2.00
Standard rate per hour $24

During May, the company used 12.50% more hours than the standard allowed.

A. What were the total standard hours allowed for the units manufactured during the month?

B. What were the actual hours worked?

C. How many actual units were produced during May?

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