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Direct Labor Variances Tip Top Corp. produces a product that requires 10.0 standard hours per...

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Accounting

Direct Labor Variances

Tip Top Corp. produces a product that requires 10.0 standard hours per unit at a standard hourly rate of $15.00 per hour. If 5,800 units required 60,300 hours at an hourly rate of $14.70 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

a. Direct labor rate variance $ Select Favorable Unfavorable Item 2 b. Direct labor time variance $ Select Favorable Unfavorable Item 4 c. Direct labor cost variance $ Select Favorable Unfavorable Item 6

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