The Flapjack Corporation had 7,944 actual direct labor hours at an actual rate of $12.24 per hour. Original production had been budgeted for 1,100 units, but only 993 units were actually produced. Labor standards were 7.1 hours per completed unit at a standard rate of $12.75 per hour. Round your answer to the nearest cent. The labor time variance is:
a. $4,091.16 unfavorable
b. $4,091.16 favorable
c. $11,394.68 unfavorable
d. $11,394.68 favorable
12. The following data relate to direct materials costs for February:
- Materials cost per yard: Standard, $1.94; Actual, $2.04
- Standard yards per unit: Standard, 4.65 yards; Actual, 5.10 yards
- Units of production: 9,100
Calculate the direct materials price variance.
a. $910.00 unfavorable
b. $4,641.00 unfavorable
c. $4,231.50 favorable
d. $4,641.00 favorable