Business, 21.08.2020 18:01 vanessaporter1545

Pippin Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. InputsStandard Quantity or Hours per Unit of OutputStandard Price or Rate Direct materials 5.0grams$7.00per gram Direct labor 0.30hours$21.30per hour Variable manufacturing overhead 0.30hours$9.60per hour The company has reported the following actual results for the product for June: Actual output 8,500units Raw materials purchased 48,100grams Actual price of raw materials$7.70per gram Raw materials used in production 42,490grams Actual direct labor-hours 2,300hours Actual direct labor rate$21.70per hour Actual variable overhead rate$9.80per hour The labor rate variance for the month is closest to:

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