Information for Bonanza Company's direct labor cost for February is as follows:Actual direct labor hours84,000Total direct labor payroli$546,000Efficiency variance$ 5,923FRate variance$113,400UWhat were the standard direct labor hours for February?Multiple Choice87,15084,00086,55085,150 James Manufacturing had the following information available for July:FlexibleSalesActualBudgetFlexible ActivityMasterResultsVarianceBudgetVarianceBudgetUnits10,500?1,000U?Sales revenue$19,700FLess:Variable manufacturing$89,000$94,000$115,000costsVariable marketing and$ 7,000U$7,800F$ 35,000administrativeContribution margin$54,000?$6,500U?What was James's activity variance for variable manufacturing costs?Multiple Choice$41,700$35,300$5,000$21,000

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Description: Information for Bonanza Company's direct labor cost for February is as follows:Actual direct labor hours84,000Total direct labor payroli$546,000Efficiency variance$ 5,923FRate variance$113,400UWhat were the standard direct labor hours for February?M

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Actual direct labor hours 84,000 Total direct labor payroll Bfficiency variance Rate variance $546,000 $ 5,923F $113,400U hat were the standard direct labor hours for February?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question Content Area Power Co.'s labor information for June is as follows: Direct labor hours worked 68,100 Standard labor hours for units manufactured 71,000 Unfavorable direct labor rate variance $17,025 Total payroll for labor $820,605 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
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