I want to correct answer general accounting A company has established the following labor standards for their mainproduct:⚫ Standard labor hours per unit: 2.0 hours• Standard labor rate: $16.50 per hourThe actual data for last month shows:⚫ Actual hours worked: 4,200 hours•. Actual total labor cost: $67,200⚫ Actual output: 2,100 unitsCalculate the labor rate variance.A. $2,100 FavorableB. $2,100 UnfavorableC. $1,950 FavorableD. $1,950 Unfavorable

Step 1: Definition of Labor Rate VarianceLabor Rate Variance (LRV): The labor rate variance measures…

Answered: A company has established the following…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 9EB: Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured...

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Use the following data for questions #5-7 Japan Company produces furniture and has the following data related to its direct labor costs: standard costs are 17,325 hours at an hourly rate of $15.00 per hour and actual costs are 19,250 hours at an hourly rate of $14.90 per hour. 6. What is the direct labor time variance? a. $28,875 Favorable b. $28,875 Unfavorable c. $28,683 Favorable d. $28,683 Unfavorable
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Information on Orman Company's direct labor costs is as follows:Standard direct labor rate $3.75, Actual direct labor rate $3.50, Standard direct labor hours 10,000, Direct labor usage (efficiency) variance—unfavorable P4,200. What were the actual hours worked, rounded to the nearest hour? 10,714 11,120 11,200 11,914
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A company's standard is 2 hours of direct labor per unit at a rate of $45 per hour. The company shows the following for the year. Actual units produced Actual direct labor used 5,120 units 10,040 hours Actual cost of direct labor used AH = Actual Hours SH=Standard Hours AR= Actual Rate SR Standard Rate Complete this question by entering your answers in the tabs below. Required A Required B Compute the direct labor rate variance, direct labor efficiency variance, and the total direct labor variance. For each variance, indicate whether it is favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost $ $ 471,880 0 $ 0 0 Standard Cost
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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
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