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GrandScapes is a manufacturer of large flower pots for urban settings. The company has these...

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Accounting

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GrandScapes is a manufacturer of large flower pots for urban settings. The company has these standards: EEB (Click the icon to view the standards.) EE (Click the icon to view the actual results.) Requirements 1. Compute the direct labor rate variance and the direct labor efficiency variance 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. Requirement 1. Compute the direct labor rate variance and the direct labor efficiency variance. (Enter the variances as positive numbers. Enter the currency amounts in the formulas to the nearest cent, then round the final variance amounts to the nearest whole dollar. Label the variance as favorable (F) or unfavorable (U) Abbreviations used: DL = Direct labor) Begin with the direct labor rate variance. First determine the formula for the rate variance, then compute the rate variance for direct labor Actual hours 2,420 Standard rate Actual rate 14.00 = DL rate variance , x( S 15.00 $ 2.420 F 2,420 F Now compute the direct labor efficiency variance. First determine the formula for the efficiency variance, then compute the efficiency variance for direct labor ! ) DL efficiency variance x (

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