A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds $9 per pound 2 DLH $16 per DLH 2 DLH @ $13 per DLH Direct materials Direct labor Overhead Units manufactured Actual Results 50,900 pounds @ $9.10 per pound 16,500 hours $16.50 per hour. $ 223,600 8,400 units Exercise 21-10 (Algo) Direct labor variances LO P3 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.)
A manufactured product has the following information for June. Standard Quantity and Cost 6 pounds $9 per pound 2 DLH $16 per DLH 2 DLH @ $13 per DLH Direct materials Direct labor Overhead Units manufactured Actual Results 50,900 pounds @ $9.10 per pound 16,500 hours $16.50 per hour. $ 223,600 8,400 units Exercise 21-10 (Algo) Direct labor variances LO P3 Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Please do not give solution in image format thanku
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Requirea information
Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
A manufactured product has the following information for June.
Direct materials
Direct labor
Overhead
Units manufactured
AH Actual Hours
SH Standard Hours
AR Actual Rate
SR = Standard Rate
Saved
Standard Quantity and Cost
6 pounds @ $9 per pound
2 DLH $16 per DLH
2 DLH $13 per DLH
Actual Cost
Exercise 21-10 (Algo) Direct labor variances LO P3
Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting
favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.)
Actual Results
50,900 pounds @ $9.10 per pound
16,500 hours @ $16.50 per hour
$ 223,600
8,400 units
Standard Cost
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Transcribed Image Text:i
Requirea information
Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
A manufactured product has the following information for June.
Direct materials
Direct labor
Overhead
Units manufactured
AH Actual Hours
SH Standard Hours
AR Actual Rate
SR = Standard Rate
Saved
Standard Quantity and Cost
6 pounds @ $9 per pound
2 DLH $16 per DLH
2 DLH $13 per DLH
Actual Cost
Exercise 21-10 (Algo) Direct labor variances LO P3
Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each variance by selecting
favorable, unfavorable, or no variance. Round "Rate per hour" answers to 2 decimal places.)
Actual Results
50,900 pounds @ $9.10 per pound
16,500 hours @ $16.50 per hour
$ 223,600
8,400 units
Standard Cost
He
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