I have opened the image you uploaded. Now, let's proceed to solve the problem based on the data and questions presented.

Steps:

1. Standard Direct-Labor Cost Calculation:

   • The standard direct-labor rate is given as $15.08.
   • The standard ratio of direct-labor hours to machine hours is 4:1.

2. Formula to Use:

   • For each month, we calculate the Standard Direct-Labor Cost by multiplying the standard labor hours (based on machine hours) by the direct-labor rate.

3. Calculate 20% of Standard Direct-Labor Cost:

   • After calculating the standard cost, 20% of that cost is calculated to identify which months have a variance that exceeds this threshold.

Breakdown:

Let's calculate each month's values to fill in the chart based on this procedure. I'll start by calculating the standard direct-labor cost for each month using the data from the image.It appears there was a mismatch in unpacking the data. I'll fix that and proceed with the correct calculations for the standard labor costs and the 20% threshold for each month.Here are the calculated values for the standard direct-labor costs, 20% thresholds, and whether or not the variance exceeds the threshold for each month:

All the months have variances within the 20% threshold.

Let me know if you'd like further clarifications or more details!

Here are 5 related questions:

1. How does a company use variance analysis in budgeting?
2. What is the difference between labor efficiency and labor rate variance?
3. Why is it important to investigate variances exceeding thresholds like 20%?
4. Can actual labor hours being lower than standard hours indicate inefficiency?
5. How would increased machine hours impact labor cost variance?

Tip: Regularly reviewing labor variance can help identify operational inefficiencies before they escalate into bigger issues.