The following data reflect the current month's activity for Vickers Corporation. Actual total direct...
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Accounting
The following data reflect the current month's activity for Vickers Corporation.
Actual total direct labor$660,375Actual hours worked37,500Standard labor-hours allowed for actual output (flexible budget)36,500Direct labor price variance$14,625FActual variable overhead$167,650Standard variable overhead rate per standard direct labor-hour$4.50
Variable overhead is applied based on standard direct labor-hours allowed.
Required:
Compute the labor and variable overhead price and efficiency variances.(Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)
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