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Solving for Unknowns Misterio Company uses a standard costing system. During the past quarter, the following variances...

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Accounting

Solving for Unknowns

Misterio Company uses a standard costing system. During the pastquarter, the following variances were computed:

Variable overhead efficiency variance$ 24,000 U
Direct labor efficiency variance120,000 U
Direct labor rate variance10,400 U

Misterio applies variable overhead using a standard rate of $2per direct labor hour allowed. Two direct labor hours are allowedper unit produced. (Only one type of product is manufactured.)During the quarter, Misterio used 30 percent more direct laborhours than should have been used.

Required:

1. What were the actual direct labor hoursworked?
hours

What are the total hours allowed?
hours

2. What is the standard hourly rate for directlabor?
$ per hour

What is the actual hourly rate? Round your answer to the nearestcent.
$ per hour

3. How many actual units were produced?
units

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