2.During November, York Company recorded 5,100 actual direct labor hours,$20,600 actual variable overhead costs, and 2,400 units of product manufactured. YorkCompany's standard variable overhead rate is $3.50 per direct labor hour, and each unitrequires 2.5 standard direct labor hours. What is the variable overhead efficiencyvariance for November for York Company?a. $2,750 unfavorableb. $400 favorablec. $3,150 unfavorabled. $900 favorablee. $3,150 favorablef. $2,750 favorableg. $2,250 favorableh. None of the above

Introduction:- Calculation of variable overhead efficiency variance for November for York Company as follows under:- The following formula used Variable overhead efficiency variance =(Standard labor hours - Actual labor hours ) * Standard variable OH rateExplanation:- Calculation of variance using above formula as follows:- Variable OH efficiency variance: (Standard labor hours - Actual labor hours ) * Standard variable OH rate = ((2400 * 2.5) - 5100) * $ 3.5 = $ 3,150 (Favorable)Conclusion:- As per the above discussions option "e" is the correct answer, which satisfies the given requirement and remaining options do not satisfies the given requirement... I hope helpful to you.. If you are satisfied.. Support me.. Thank you..

Business

Accounting

2. During November, York Company recorded 5,100 actual direct labor hours, $20,600 actual variable overhead costs, and 2,400 units of product manufactured. York Company's standard variable overhead rate is $3.50 per direct labor hour, and each uni requires 2.5 standard direct labor hours. What is the variable overhead efficiency variance for November for York Company? a. $2,750 unfavorable b. $400 favorable c. $3,150 unfavorable d. $900 favorable e. $3,150 favorable f. $2,750 favorable g. $2,250 favorable h. None of the above

2. During November, York Company recorded 5,100 actual direct labor hours, $20,600 actual variable overhead costs, and 2,400 units of product manufactured. York Company's standard variable overhead rate is $3.50 per direct labor hour, and each uni requires 2.5 standard direct labor hours. What is the variable overhead efficiency variance for November for York Company? a. $2,750 unfavorable b. $400 favorable c. $3,150 unfavorable d. $900 favorable e. $3,150 favorable f. $2,750 favorable g. $2,250 favorable h. None of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

I want the Correct
Phillips Fencing considers 6,000 direct labor hours or 200 fences to be its normal monthly capacity. Its standard variable overhead rate is $7 per direct labor hour. During the current month, $44,500 of variable overhead costs were incurred in working 6,200 direct labor hours to complete 215 fences. What is the variable overhead efficiency variance? Select one: a. $1,400 U b. $1,750 U c.$1,400 F d. $1,750 F e. None of the above
The Company uses standard costing. For the month of April, the company reported the following data: Standard direct labour rate Standard hours allowed for actual production Actual direct labour rate Direct Labour efficiency variance What was the direct labour rate variance for April? $10 per hour 6,000 $8.50 per hour $4,800 favourable
Want Answer please without any problem
Provide solution please
The following standards for variable overhead have been established for a company that makes only one product: Standard hours per unit of output Standard variable overhead rate The following data pertain to operations for the last month: Actual hours. Actual total variable overhead cost Actual output 6.2 hours $13.50 per hour 9,700 hours $ 125,170 1,550 units Required: a. What is the variable overhead rate variance for the month? b. What is the variable overhead efficiency variance for the month? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate 10.3 hours $14.10 per hour The following data pertain to operations concerning the product for the last month: 8,100 hours Actual hours worked Actual total labor cost Actual output What is the labor efficiency variance for the month? Multiple Choice $19,737 F $19,737 U $16,029 F $16,497 F $ 110,970 900 units
Asap
Use the following information of Alfred Industries. Standard manufacturing overhead based on normal monthly volume: Fixed ($302,300 ÷ 20,000 units) $ 15.12 Variable ($100,000 ÷ 20,000 units) 5.00 $ 20.12 Units actually produced in current month 18,000 units Actual overhead costs incurred (including $300,000 fixed) $ 383,800 Compute the overhead spending variance and the volume variance. (Indicate the effect of each variance by selecting "Favorable" or "Unfavorable". Select "None" and enter "0" for no effect (i.e., zero variance).)
The following data relate to direct labor costs for the current period: Standard costs 7,300 hours at $11.30 Actual costs 6,200 hours at $10.40 What is the direct labor rate variance? a.$18,010 unfavorable b.$5,580 favorable c.$18,010 favorable d.$12,430 favorable The Flapjack Corporation had 7,768 actual direct labor hours at an actual rate of $12.40 per hour. Original production had been budgeted for 1,100 units, but only 965 units were actually produced. Labor standards were 8.0 hours per completed unit at a standard rate of $13.20 per hour. The labor rate variance is $6,214.40 unfavorable $6,214.40 favorable $1,003.00 unfavorable $1,003.00 favorable
AGL Inc. provided the following data related to the direct labor costs for the current period: Data Related to Direct Labor Costs Data Rate Hours Standard $17.50 12,000 Actual $15.50 14,000 Determine the direct labor rate variance. Group of answer choices $7,000 unfavorable $28,000 unfavorable -$28,000 favorable -$7,000 favorable
give the explanTION OF