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The Reedy Company Uses a Standard Costing System What Was the Actual Direct Labour Rate for November?
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question 45

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The Reedy Company uses a standard costing system.The following data are available for November:  Actual direct labour hours worked 5,800 hours  Standard direct labour rate $9 per hour  Labour rate variance $1,160 favourable \begin{array}{lr}\text { Actual direct labour hours worked } & 5,800 \text { hours } \\\text { Standard direct labour rate } & \$ 9 \text { per hour } \\\text { Labour rate variance } & \$ 1,160 \text { favourable }\end{array} What was the actual direct labour rate for November?


Definitions:

Annual Risk-free Rate

The theoretical rate of return of an investment with zero risk over a one-year period, often represented by government bonds.

Futures Price

The price at which a futures trader commits to make or take delivery of the underlying asset.

Spot Exchange Rate

The current exchange rate at which one currency can be exchanged for another for immediate delivery.

Risk-free Rates

Risk-free Rates represent the return on investment of an absolutely safe asset, with no risk of financial loss, typically exemplified by treasury bills of a stable government.

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