Illustration 16.7 The standard labour employment and the actual labour engaged in a weekfor a job are as under :SkilledSemi-skilledUnskilledworkersworkersworkers126.Standard no. of workers in the gangActual no. of workers employedStandard wage rate per hour3228184.34Actual wage rate per hourDuring the 40 hours working week, the gang produced 1,800 standard labour hours ofwork. Calculate:(b) Labour Rate Variance,(d) Labour Mix Variance(a) Labour Cost Variance(c) Labour Efficiency Variance(e) Labour Yield Variance(B.Com Hons Delhi; C.A. Inter)

Name: Illustration 16.7 The standard labour employment and the actual labou
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Description: Illustration 16.7 The standard labour employment and the actual labour engaged in a weekfor a job are as under :SkilledSemi-skilledUnskilledworkersworkersworkers126.Standard no. of workers in the gangActual no. of workers employedStandard wage rate

Labor efficiency variance refers to the concept that evaluates the difference between the actual…

Business

Accounting

andard no. of workers in the gang tual no. of workers employed andard wage rate per hour etual wage rate per hour 32 28 3. 4. uring the 40 hours working week, the gang produced 1,800 standard labour hours Calculate : (b) Labour Rate Variance, 24 9 1823

andard no. of workers in the gang tual no. of workers employed andard wage rate per hour etual wage rate per hour 32 28 3. 4. uring the 40 hours working week, the gang produced 1,800 standard labour hours Calculate : (b) Labour Rate Variance, 24 9 1823

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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L Company's direct labor information for the month of February is as follows: Actual direct labor hours 16.000 Standard direct labor hours) 16.400 direct labor rate variance-unfavorable $4.000 Total Payroll $152.000 What was L standard direct labor rate?
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Entry for Factory Labor Costs The weekly time tickets indicate the following distribution of labor hours for three direct labor employees: Hours Job 301 Job 302 Job 303 ProcessImprovement Tom Couro 23 10 9 5 David Clancy 13 13 13 3 Jose Cano 13 17 10 4 The direct labor rate earned per hour by the three employees is as follows: Tom Couro $18 David Clancy 25 Jose Cano 21 The process improvement category includes training, quality improvement, and other indirect tasks. a. Journalize the entry to record the factory labor costs for the week. If an amount box does not require an entry, leave it blank. Work in Process Work in Process Factory Overhead Factory Overhead Wages Payable Wages Payable Feedback b. Assume that Jobs 301 and 302 were completed but not sold during the week and that Job 303 remained incomplete at the end of the week. How would the direct labor costs for all three jobs be…
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