Puvo, Incorporated, manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product: 
During March, the following activity was recorded by the company:The company produced 2,400 units during the month.A total of 19,400 pounds of material were purchased at a cost of $13,580.There was no beginning inventory of materials on hand to start the month; at the end of the month, 3,620 pounds of material remained in the warehouse.During March, 1,090 direct labor-hours were worked at a rate of $30.50 per hour.Variable manufacturing overhead costs during March totaled $14,061.The direct materials purchases variance is computed when the materials are purchased.The labor rate variance for March is:
Definitions:
Parking Spaces
Designated areas where vehicles can be parked, usually marked and allocated specifically for this purpose.
Product Obsolescence
The condition of a product becoming outdated or no longer useful due to advancements in technology, changes in consumer preferences, or market conditions.
Internal Integration
The process of ensuring that different departments and functions within an organization work together smoothly and effectively.
External Image
The perception of an organization or individual by those outside of it, influenced by public relations, media representation, and other external communications.
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