Puvo, Inc., manufactures a single product In which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product.
Standard Quantity Standard Price Rate or Standard Cost
Direct Materials 5.8 pounds $0.60 per pound $3.48
Direct labor 0.5 hours $33.50 per hour $16.75
Variable manufacturing overhead 0.5 hours $8.50 per hour $4.25
During March, the following activity was recorded by the company:
(1). The company produced 2400 units during the month.
(2). A total of 19.400 pounds of material were purchased at a cost of $13,580.
(3). There was no beginning Inventory of materials on hand to start the month; at the end of the month, 3,620 pounds of material remained In the warehouse.
(4). During March, 1,090 direct labor-hours were worked at a rate of $30.50 per hour.
(5). Variable manufacturing overhead costs during March totaled $14,061.
The direct materials purchases variance is computed when the materials are purchased.
The labor rate variance for March Is:
(a)$4,120 U
(b)$3,270 F
(c)$3,270 U
(d)$4,120 F
Answers: 2
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