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Tharaldson Corporation makes a product with the following standard costs: Direct materials Direct labor Variable...

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Accounting

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Tharaldson Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Standard Quantity or Standard Price or Cost Per Hours Rate Unit 5.5 ounces $ 2.00 per ounce $11.00 0.4 hours $11.00 per hour $ 4.40 0.4 hours $ 8.00 per hour $ 3.20 The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 4,100 units 4,100 units 20,500 ounces 21,600 ounces 550 hours $42,800 $14,100 $ 4,050 The company applies variable overhead on the basis of direct labor hours. The direct materials purchases variance is computed when the materials are purchased The labor rate variance for June is: Multiple Choice $1,523 U $1,523 F $8,050 U $8,050 F

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