Please do not give solution in image format thanku Affordable Electronics Inc. manufactures medium-quality, reasonably priced wireless speakers for home use. The company usesstandards to control its costs. The labour standards that have been set for one speaker are as follows:standard Hours12 minutes (0.20 hours)During July, 2,350 hours of direct labour time were recorded to make 11,000 units. The direct labour cost totalled $25,145 for themonth.Direct labour costRequired:1-a. What direct labour cost should have been incurred to make the 11,000 speakers? (Do not round Intermediate calculations.)Total varianceSSStandard Rateper Hour$11.001-b. By how much does direct labour cost differ from the cost that was incurred? (Indicate the effect of varlance by selecting "F" forfavourable, "U" for unfavourable, and "None" for no effect (l.e., zero varlance).)standardCost$2.20Labour rate varianceLabour efficiency variance2. Break down the difference in cost from requirement 1-b above into a labour rate variance and a labour efficiency variance. (Indicatethe effect of each varlance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (l.e., zero variance).)SS 3. The budgeted variable manufacturing overhead rate is $2.00 per direct labour-hour. During July, the company incurred $4,935 invariable manufacturing overhead cost. Compute the variable overhead spending and efficiency variances for the month. (Indicate theeffect of each varlance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effect (l.e., zero varlance).)Answer is not complete.Variable overhead spending varianceVariable overhead efficiency variance

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Description: Please do not give solution in image format thanku Affordable Electronics Inc. manufactures medium-quality, reasonably priced wireless speakers for home use. The company usesstandards to control its costs. The labour standards that have been set for

Variance arises when actual cost is different from budgeted costs. The variance is positive…

Business

Accounting

Affordable Electronics Inc. manufactures medium-quality, reasonably priced wireless speakers for home use. The company uses standards to control its costs. The labour standards that have been set for one speaker are as follows: standard Hours 12 minutes (0.20 hours) Standard Rate per Hour $11.00 standard Cost $2.20 During July, 2,350 hours of direct labour time were recorded to make 11,000 units. The direct labour cost totalled $25,145 for the month. Required: 1-a. What direct labour cost should have been incurred to make the 11,000 speakers? (Do not round Intermediate calculations.)

Affordable Electronics Inc. manufactures medium-quality, reasonably priced wireless speakers for home use. The company uses standards to control its costs. The labour standards that have been set for one speaker are as follows: standard Hours 12 minutes (0.20 hours) Standard Rate per Hour $11.00 standard Cost $2.20 During July, 2,350 hours of direct labour time were recorded to make 11,000 units. The direct labour cost totalled $25,145 for the month. Required: 1-a. What direct labour cost should have been incurred to make the 11,000 speakers? (Do not round Intermediate calculations.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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