A company has the following direct labor standards and actual data for producing 4,200 units: ⚫ Standard: 4 hours per unit at $8 per hour • Actual hours worked: 4,500 ⚫ Actual rate per hour: $7.75 Calculate the total direct labor cost variance.
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- Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?A company has the following direct labor solve this accounting questionsABC Company uses standard costing for each specialized product. The following information is available: Standards: Material 3.0 feet per unit @ 42.00 per foot Labor 2.5 hours per unit @ 75.00 per hour Actual: Production 2,750 units produced during the month Material 8,700 feet used; 9,000 feet purchased @ 45.00 per foot Labor 7,000 direct labor hours @ 79.00 per hour How much is the labor efficiency variance? A. 9,875 FB. 9,375 FC. 9,875 UD. 9,375 U
- Honesty Company uses standard costing for each specialized product. The following information is available: Standards: Material 3.0 feet per unit @ P42.00 per foot Labor 2.5 hours per unit @ P75.00 per hour Actual: Production 2,750 units produced during the month Material 8,700 feet used; 9,000 feet purchased @ P45.00 per foot Labor 7,000 direct labor hours @ P79.00 per hour How much is the labor efficiency variance?XYZ Company makes one product and has calculated the following amounts for direct labor: AH x AR = $84,000; AH x SR = $83,000; SH x SR = $85,000. Compute the direct labor cost variance. Multiple choice question. $1,000 U $1,000 F $2,000 F $2,000 UAssume the following: • The standard labor rate per hour is $17.00. • The standard labor-hours allowed per unit of finished goods is 3 hours. • The actual quantity of labor hours worked during the period was 44,000 hours. • The total actual direct labor cost for the period was $726,000. • The company produced 15,000 units of finished goods during the period. What is the labor efficiency variance? Multiple Choice $17,000 U $17,000 F $22,000 U $22,000 F
- A Company establishes the following standards for the costs of one unit of its product. The standard production overhead costs per unit are bascd on direct-labor hours. Calculation for standard per unit cost is as follows: Std Cost Std Qty 3.00 kg | Direct Material Direct Labor Variable Overhead Fixed Overhead* |Total *based on practical capacity of 20,000 direct-labor hour per month Std Price/Rate $ 8.25 per kg $ 10.00 per hour $ 10.00 per hour $ 7.50 per hour 24.75 $ 20.00 2.00 hour $ 20.00 2.00 hour 15.00 2.00 hour 79.75 During December 2020, the Company purchased 30,000 kg of direct material at a total cost of $246,000. The total wages for December were $260,000, 75% of which were for direct labor. The Company manufactured 9,500 units of product during December 2020, using 28,400 kg of the direct material purchased in December and 18,900 direct-labor hours. Actual variable and fixed overhead cost were $200,000 and $150,000, respectively. The scheduled production for the month was…The company produces a single product and has prepared the following standard cost sheet for one unit of the product. Direct Labor: 3 hours at $12.00 per hourDuring the month, the company manufactures 235 units and incurs the following actual costs.Direct labor: 700 hours at $11.80 per hourA. Calculate the Direct Labor rate variancr B. Calculate the Direct Labor usage variance. C. Calculate the Total Direct labor cost varianceThe Russell Company provides the following standard cost data per unit of product: Direct material (3 gallons @ $3 per gallon) Direct labor (2 hours @ $13 per hour) $9.00 $26.00 During the period, the company produced and sold 24,000 units, incurring the following costs: Direct material Direct labor 75,000 gallons @ 48,500 hours @ $ 2.90 per gallon $ 12.75 per hour The direct labor usage variance was: Multiple Choice $6,500 unfavorable. $6.375 unfavorable
- 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 UnfavorableChang Company uses a standard costing system. In August, 7,960 actual labor hours were worked at a rate of $17.55 per hour. The standard number of hours is 6,350 and the standard wage rate is $15.45 per hour. Determine the Labor Rate and Variance Labor Efficiency Variance. Provide solutionThe standard cost of Product DD is 4 hours of labor at a rate of $12.00 per hour. During the month 40,600 hours of labor are incurred at a cost of $12.15 per hour. The company produced 10,000 units of product DD. A. Calculate the Direct Labor rate varianceB. Calculate the Direct Labor usage varianceC. Calculate the Total Direct labor cost variance
