Question

Milar Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateDirect materials 7.7pounds$4.00per poundDirect labor 0.1hours$20.00per hourVariable overhead 0.1hours$4.00per hour In January the company produced 2,000 units using 16,060 pounds of the direct material and 210 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $65,910. The actual direct labor cost was $4,473 and the actual variable overhead cost was $756. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The labor rate variance for January is:

          Milar Corporation makes a product with the following standard costs:
 Standard Quantity or HoursStandard Price or RateDirect materials 7.7pounds$4.00per poundDirect labor 0.1hours$20.00per hourVariable overhead 0.1hours$4.00per hour
In January the company produced 2,000 units using 16,060 pounds of the direct material and 210 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $65,910. The actual direct labor cost was $4,473 and the actual variable overhead cost was $756.
The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.
The labor rate variance for January is:

Added by James M.

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