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The standard costs and actual costs for direct labor for the manufacture of 2,500 actual...

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Accounting

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The standard costs and actual costs for direct labor for the manufacture of 2,500 actual units of product are as follows: Standard Costs Direct labor 7,500 hours @ $11.80 Actual Costs Direct labor 7,400 hours @ $11.40 The direct labor rate variance is Oa. $4,500 unfavorable Ob. $2,960 unfavorable OC. $2,960 favorable Od. $4,500 favorable If the standard to produce a given amount of product is 600 direct labor hours at $15 and the actual is 600 hours at $17, the rate variance is $1,200 unfavorable. O True O False A favorable cost variance occurs when actual cost is less than standard cost at actual volumes. True O False If the standard to produce a given amount of product is 1,000 units of direct materials at $11 and the actual is 800 units at $12, the direct materials quantity variance is $1,000 unfavorable. O True False

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