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Affordable Electronics Inc. manufactures medium-quality, reasonably priced wireless speakers for home use. The company uses...

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Accounting

Affordable Electronics Inc. manufactures medium-quality, reasonably priced wireless speakers for home use. The company uses
standards to control its costs. The labour standards that have been set for one speaker are as follows:Standard Hours Standard Rate
per Hour Standard
Cost
18 minutes (0.30 hours) $10.00 $3.00
During July, 6,550 hours of direct labour time were recorded to make 21,000 units. The direct labour cost totalled $69,430 for theBreak down the difference in cost from requirement 1-b above into a labour rate variance and a labour efficiency variance. (Indicate
the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).)
The budgeted variable manufacturing overhead rate is $3.00 per direct labour-hour. During July, the company incurred $27,510 in
variable manufacturing overhead cost. Compute the variable overhead spending and efficiency variances for the month. (Indicate the
effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance).)
month.

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