(Answered) Question - charity quilt company produces and sells custom

Accounting

Question - Charity Quilt Company produces and sells custom quilts. The company has a standard cost system to help control costs and has established the following labor standards for completing quilt tops.

Standard labor-hours per unit of output: 5.4 hours

Standard labor rate: $10.20 per hour

The following data pertain to quilt top operations for the last month.

Actual hours worked: 1,000 hours

Actual labor cost: $10,600

Actual output: 200 units

Required -

Compute the following variances

Direct labor rate and efficiency variances.

Prepare a brief explanation of the possible causes of each variance.

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