1.4 REQUIRED Calculate the following variances from the information provided below. In each case also state whether the variance is favourable or unfavourable. 1.4.1 Labour rate variance 1.4.2 Labour efficiency variance 1.4.3 Total labour variance without using the labour rate variance and labour efficiency variance. INFORMATION Raleigh Enterprises manufactures bicycles. During the year 3 000 bicycles were produced. The actual labour time was 28 000 hours at a total cost of R2 660 000. Raleigh Enterprises had the following labour standard for the 4 000 bicycles that it expected to produce during the year: 9 hours per unit at R90 per hour

1.4 REQUIRED Calculate the following variances from the information provided below. In each case also state whether the variance is favourable or unfavourable. 1.4.1 Labour rate variance 1.4.2 Labour efficiency variance 1.4.3 Total labour variance without using the labour rate variance and labour efficiency variance. INFORMATION Raleigh Enterprises manufactures bicycles. During the year 3 000 bicycles were produced. The actual labour time was 28 000 hours at a total cost of R2 660 000. Raleigh Enterprises had the following labour standard for the 4 000 bicycles that it expected to produce during the year: 9 hours per unit at R90 per hour

Name: Please do not give solution in image format thanku 1.4 REQUIRED Calcul
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Please do not give solution in image format thanku 1.4 REQUIRED Calculate the followingvariances from the information providedbelow. In each case also state whetherthe variance is favourable orunfavourable. 1.4.1 Labour rate variance1.4.2 Labour effi

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 3P: Scattergraph method Using the data in P4-2 and a piece of graph paper: 1. Plot the data points on...

See similar textbooks

Similar questions

Gemini
Hh1.
2.2 Use the information provided below to calculate the following manufacturing variances for March2022. Note: Each answer must state whether the variance is favourable or unfavourable2.2.1 Labour rate variance 2.2.2 Labour efficiency variance 2.2.3 Variable overheads efficiency variance Variable overheads expenditure variance INFORMATIONNevada Limited set a standard labour rate of R32 per hour and a standard variable overhead rate of R3.80 perlabour hour.Actual hours worked for March 2022 were 4 910 at a cost of R149 264. The actual variable overhead cost incurredwas R19 640. The standard allowance of labour hours for the output achieved was 5 000 hours.
Please solve a and b
Don't give answer in image
I need help with 1D, 1E, 1F.
SECTION A Actual data Answer ALL the questions in this section. Direct materials 65 000 kg @ R13 per kg Use the information provided below to calculate the following variances. In each case state whether the variance is favourable or unfavourable. Direct labour 29 000 hours @ R11 per hour 1.1 Material quantity variance Variable overheads R130 500 1.2 Labour rate variance Labour efficiency variance Fixed manufacturing overheads R188 500 1.3 1.4 Variable overheads efficiency variance Selling price R195 1.5 Variable overheads expenditure variance Production and sales 10 000 units 1.6 Fixed overheads volume variance 1.7 Sales price variance INFORMATION Mica Manufacturers makes and sells a single product. The company operates a standard costing system. Details of the budgeted and actual data for 2022 are as follows: Budgeted data Standard production costs per unit Direct materials 6 kg at a cost of R12 per kg Direct labour 3 hours at R10 per hour Variable overheads 3 hours at R5 per direct…
A company reports the following information for its direct labor. Actual hours of direct labor used (AH) Actual rate of direct labor per hour (AR) Standard rate of direct labor per hour (SR) Standard hours of direct labor for units produced (SH) 72,000 $ 16 $ 15 73,300 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost Standard Cost
Required: (a) Which formula will correctly calculate the direct labour efficiency variance in cell B18? A = (C9*C4)- B13B = B13-(C9*C4)C = (C9*C4)- (150,000*8)D = (150,000-(C9*6))*8 (b) Calculate the following for month 1: (i) Sales volume variance and state whether it is favourable or adverse; (ii) Sales price variance and state whether it is favourable or adverse.
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost $5 per foot ? per hour Direct materials 3 feet $ 15 Direct labor ? hours ? During March, the company purchased direct materials at a cost of $45,375, all of which were used in the production of 2,350 units of product. In addition, 4,800 direct labor-hours were worked on the product during the month. The cost of this labor time was $50,400. The following variances have been computed for the month: Materials quantity variance Labor spending variance Labor efficiency variance $ 2,250 U $ 3,400 U $ 1,000 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. c. Compute the standard hours allowed per unit of…
Please help i will definitely like
Calculate the Variable overhead variances and prepare an operating statement for the month endedJune 2015 as per the tables provided below. Variable overhead variances £ Favourable (F)/ Adverse (A) Variable overhead rate variance: Variable overhead efficiency variance: Total Variable overhead variance Operating Statement (OP): Standard OP Variances Actual OP £ £ £ £ £ Sales Direct materials Direct labour Variable overheads Total variable expenses Contribution