ext two questions are based on the following:
Hickory, Inc., which uses standard costing, manufactures a single product with the following cost card:
Standard Direct Labor Hours allowed per unit
Standard Direct Labor Rate
Selected results for the most recent period are:
4.5 DLHs
? per DLH
Budgeted Production
2,200 units
Actual Production
2,300 units
Actual Direct Labor Cost
$ 128,300
Actual Direct Labor Hours
11,700 hours
Labor Rate Variance
?
Labor Spending Variance
$ 4,180 Favorable
15 The Standard Direct Labor Rate is:
A. $ 13.38 per DLH
B. $ 12.80 per DLH
C. $ 11.99 per DLH
D. $ 11.32 per DLH
E. None of the above
16 The Labor Rate Variance is:
A. $ 4,180.00 Favorable
B. $ 17,280.00 Unfavorable
C. $ 12,009.57 Unfavorable
D. $ 21,460.00 Favorable
E. None of the above