The following direct labor standards have been established for product N30A: 
The following data pertain to the most recent month's operations during which 400 units of product N30A were made: 
Required:
a.What was the labor rate variance for the month?
b.What was the labor efficiency variance for the month?
c.Prepare a journal entry to record direct labor costs during the month,including the direct labor variances.
Definitions:
RLLP
A Registered Limited Liability Partnership, a form of partnership that offers some partners limited liability regarding the partnership's debts and obligations.
Collateralize
The act of using an asset as security for a loan, ensuring the lender can seize the asset if the borrower defaults.
UPA
Uniform Partnership Act, a standardized set of laws to regulate the formation and management of partnerships in the United States.
Mortgage
A transfer of an interest in property for the purpose of creating a security for a debt.
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