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The records of Norton, Inc. show the following for July. ...

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Question

Accounting

The records of Norton, Inc. show the following for July.

Standard labor-hours allowed per unit of output

1.6

Standard variable overhead rate per standard direct labor-hour

$

31

Good units produced

60,000

Actual direct labor-hours worked

98,000

Actual total direct labor

$

2,178,000

Direct labor efficiency variance

$

41,000

U

Actual variable overhead

$

2,840,000

Required:

Compute the direct labor and variable overhead price and efficiency variances. (Do not round intermediate calculations. 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.)

Direct Labor

Price variance

efficiency variance

variable overhead

Price variance

efficiency variance

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