Direct Labor Variances Re-Cycle Company manufactures commuter bicycles from recycled materials. The following data for...
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Accounting
Direct Labor Variances
Re-Cycle Company manufactures commuter bicycles from recycled materials. The following data for July of the current year are available:
| Quantity of direct labor used | 520 hrs. |
| Actual rate for direct labor | $13.40 per hr. |
| Bicycles completed in July | 240 bicycles |
| Standard direct labor per bicycle | 2 hrs. |
| Standard rate for direct labor | $13.70 per hr. |
a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
| Direct labor rate variance | $fill in the blank 1 | FavorableUnfavorable |
| Direct labor time variance | fill in the blank 3 | FavorableUnfavorable |
| Total direct labor cost variance | $fill in the blank 5 | FavorableUnfavorable |
b. How much direct labor should be debited to Work in Process? $fill in the blank 7
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