Managerial Accounting: E25-6 Lewis Company's standard labor cost of producing

Managerial Accounting
Exercise 25-6
Lewis Company's standard labor cost of producing one unit of Product DD is 3.60 hours at the rate of $14.00 per hour. During August, 40,400 hours of labor are incurred at a cost of $14.13 per hour to produce 11,000 units of Product DD.

(a) Compute the total labor variance.
(b) Compute the labor price and quantity variances.
(c) Compute the labor price and quantity variances, assuming the standard is 3.88 hours of direct labor at $14.33 per hour.
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