99. During January, 7,000 direct labor hours were worked at a standard cost of P20 per hour. If the direct labor rate variance forJanuary was P17,500 favorable, the actual cost per direct labor hour must beA. P17.50B. P20.00C. P22.50D. P25.00

The direct labor rate variance measures the difference between the actual rate paid for direct labor…

Answered: 99. During January, 7,000 direct labor…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Current Attempt in Progress Waterway Company's standard labor cost per unit of output is $19.00 (1.90 hours x $10 per hour). During August, the company incurs 2,090 hours of direct labor at an hourly cost of $11.00 per hour in making 1,000 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.) Total labor variance $ Labor price variance $ Labor quantity variance $
The standard direct labour specification for one of HG Ltd's products is 5 hours @ £8 per hour; last month, 6,000 units were produced, giving rise to labour efficiency and rate variances of £16,000F and £14,000A respectively. What was the actual direct labour rate per hour during the month? (To nearest £0.50) OA. £8.50 OB. £8.00 OC. £7.50 OD. £7.00
Question Content Area Power Co.'s labor information for June is as follows: Direct labor hours worked 65,400 Standard labor hours for units manufactured 68,000 Unfavorable direct labor rate variance $19,620 Total payroll for labor $791,340 A. What was the actual labor rate per hour? Round your answer to two decimal places. Actual labor rate $fill in the blank 1 per hour B. What was the standard labor rate per hour? Round your answer to two decimal places. Standard labor rate $fill in the blank 2 per hour C. What was the total standard labor cost for units produced in June? Total standard labor cost $fill in the blank 3 D. What was the direct labor time variance for June? Direct labor rate variance $fill in the blank 4
The following data relate to direct labor costs for the current period: 7,200 hours at $11.00 6,400 hours at $10.80 Standard costs Actual costs The direct labor time variance is O a. $8,800 unfavorable O b. $8,640 favorable O c. $8,640 unfavorable O d. $8,800 favorable
The following labor standards have been established for a particular product: Standard labor - hours per unit of output 7.7 hours Standard labor rate $ 15.35 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 9,800 hours Actual total labor cost $ 148, 960 Actual output 1, 100 units What is the labor rate variance for the month? Multiple Choice $165 F $1,470 F $1,470 U $165 U
Sheridan Company's standard labor cost per unit of output is $22.00 (2.00 hours x $11 per hour). During August, the company incurs 2.420 hours of direct labor at an hourly cost of $12.10 per hour in making 1,100 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.) Total labor variance Labor price variance $ $ Labor quantity variance $ Unfavorable Unfavorable Unfavorable V
AGL Inc. provided the following data related to the direct labor costs for the current period Rate Hours Standard $17.50 12,000 Actual $15.50 14,000 Determine the direct labor time/efficiency variance O $28,000 unfavorable O $35,000 favorable O $35,000 unfavorable O -$28,000 favorable Previous Next
Pittman Framing's cost formula for its supplies cost is $1,120 per month plus $12 per frame. For the month of November, the company planned for activity of 610 frames, but the actual level of activity was 602 frames. The actual supplies cost for the month was $8,600. The spending variance for supplies cost in November would be closest to: Multiple Choice O $160 U $256 F $256 U $160 F
Bailey’s standard labor cost of producing one unit of Product DD is 1.8 hours at a rate of $12.4 per hour. During August, 1,436 hours were incurred at a cost of $11.1 per hour to produce 1,134 units of Product DD. Bailey’s direct labor rate variance is $__________ Indicate the amount and whether it is Favorable or Unfavorable by placing F or U by amount, do not skip a space and do not use $ in your answer. For example, if your answer is $1,000 favorable, answer 1000F Selected Answer: 9,371.28F Correct Answer: 1,867 ± 1 (F)
Pittman Framing's cost formula for its supplies cost is $1,220 per month plus $11 per frame. For the month of November, the company planned for activity of 620 frames, but the actual level of activity was 612 frames. The actual supplies cost for the month was $7,650. The spending variance for supplies cost in November would be closest to: Multiple Cholce $390 F $390 U $302 U $302 F
The standard rate of pay is 12 per direct labor hour. If the actual direct labor payroll was $51744 for 4400 direct labor hours worked, the e direct labor price (rate) variance is a. $1200 unfavorable b. $1200 favorable c. $1056 favorable d. $1056 untavorable
Information regarding Maxwell's direct labor cost for the month of January follows: Direct labor hourly rate paid Total standard direct labor hours for units produced this period Direct labor hours actually worked Direct labor rate variance Required: $ 29.10 11,600 11,400 $ 16,600 favorable 1. Compute the standard direct labor wage rate per hour in January. (Round your answer to 2 decimal places.) 2. Compute the direct labor efficiency variance for January. Was this variance favorable or unfavorable? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) 1. Standard direct labor rate per hour 2. Direct labor efficiency variance

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99. During January, 7,000 direct labor hours were worked at a standard cost of P20 per hour. If the direct labor rate variance for January was P17,500 favorable, the actual cost per direct labor hour must be A. P17.50 B. P20.00 C. P22.50 D. P25.00