Solving for Unknowns Misterio Company uses a standard costing system. During the past quarter, the...
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Accounting
Solving for Unknowns
Misterio Company uses a standard costing system. During the past quarter, the following variances were computed:
Variable overhead efficiency variance
$ 23,520 U
Direct labor efficiency variance
117,600 U
Direct labor rate variance
15,288 U
Misterio applies variable overhead using a standard rate of $2 per direct labor hour allowed. Two direct labor hours are allowed per unit produced. (Only one type of product is manufactured.) During the quarter, Misterio used 30 percent more direct labor hours than should have been used.
Required:
1. What were the actual direct labor hours worked? fill in the blank hours
What are the total hours allowed? fill in the blank hours
2. What is the standard hourly rate for direct labor? $fill in the blank per hour
What is the actual hourly rate? Round your answer to the nearest cent. $fill in the blank per hour
3. How many actual units were produced?
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