A manufactured product has the following information for June. Actual Standard Direct materials 7 lbs. @ $9 per lb. 59,400 lbs. @ $9.10 per lb. Direct labor Overhead Units manufactured 1. Compute the standard cost per unit. 2. Compute the total cost variance for June. 2 hrs. @ $16 per hr. 2 hrs. @ $11 per hr. 16,400 hrs. @ $16.50 per $ 1,90,200 8,400

A manufactured product has the following information for June. Actual Standard Direct materials 7 lbs. @ $9 per lb. 59,400 lbs. @ $9.10 per lb. Direct labor Overhead Units manufactured 1. Compute the standard cost per unit. 2. Compute the total cost variance for June. 2 hrs. @ $16 per hr. 2 hrs. @ $11 per hr. 16,400 hrs. @ $16.50 per $ 1,90,200 8,400

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter10: Standard Costing And Variance Analysis

Section: Chapter Questions

Problem 36BEB: Use the following information to complete Brief Exercises 10-36 and 10-37: Ambient Inc. produces...

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Escuchar Products, a producer of DVD players, has established a labor standard for its productdirect labor: 2 hrs at 9.65 per hour. During January, Escuchar produced 12,800 DVD players. The actual direct labor used was 25,040 hours at a total cost of 245,392. Required: 1. Compute the labor rate and efficiency variances. 2. Prepare journal entries for all activities relating to labor.
Use the following information to complete Brief Exercises 10-25 and 10-26: Tico Inc. produces plastic bottles. Each bottle has a standard labor requirement of 0.03 hour. During the month of April, 900,000 bottles were produced using 25,200 labor hours @ 15.00. The standard wage rate is 13.50 per hour. 10-25 Total Labor Variance Refer to the information for Tico Inc. on the previous page. Required: Calculate the total variance for production labor for the month of April.
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