Use the Following Cost Information to Calculate the Direct Labor

question 33

Essay

Use the following cost information to calculate the direct labor rate and efficiency variances and indicate whether they are favorable or unfavorable.
$\begin{array}{lc} \text { Actual costs and quartities: } \\\text { Direct labor cost incurred } & \$ 360,000 \\\text { Direct labor hours used } & 20,000 \text { hours } \\\text { Units produced } & 45,000 \text { units } \\\text { tandard costs and quantities: } & \\\text { Direct labor rate per hour } & \$ 16.50 \\\text { Hours to produce one unit } & 0.5 \text { hours }\end{array}$

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Definitions:

Public Policy

Principles and standards considered by governments in the management of public affairs and the protection of the interests of the society.

Delegation

The act of assigning responsibility or authority from one person or group to another person or group.

Assignment

The transfer of rights, property, or obligations from one party to another. This broad term is used across various legal contexts, including in contracts and real estate.

Delegation

The act of transferring authority or responsibility from one individual or group to another while retaining overall accountability.