Andover Manufacturing completes Job #725, which has a standard of 600 labor hours at a standard rate of $21.00 per hour. The job was completed in 720 hours, and the average actual labor rate was $21.80 per hour. What is the labor efficiency (quantity) variance?

Andover Manufacturing completes Job #725, which has a standard of 600 labor hours at a standard rate of $21.00 per hour. The job was completed in 720 hours, and the average actual labor rate was $21.80 per hour. What is the labor efficiency (quantity) variance?

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 23Q: If a factory operates at 100% of capacity one month, 90% of capacity the next month, and 105% of...

See similar textbooks

Related questions

Q: provide correct answer general accounting

A: Step 1: Definition of Operating CycleThe Operating Cycle represents the time it takes for a company…

Q: Samo Co

A: Concept of Direct MaterialsDirect Materials are the raw materials that are directly used in the…

Q: What is the firm's ROA

A: To calculate the Return on Assets (ROA), we use the formula:ROA=Net Income/Total AssetsGiven…

Q: can you please solve this

A: Step 1: Definition Of Contribution Margin RatioThe contribution margin ratio represents the…

Q: Give correct answer this financial accounting question

A: Step 1: Define Budgeted Cost of Direct MaterialsThe budgeted cost of direct materials is the total…

Q: How much gain will the pratts recognize on their home sale accounting question please solve

A: Step 1: Definition of Capital GainCapital gain refers to the profit realized from the sale of a…

Q: Net income general

A: Step 1: Definition of Net IncomeNet Income is the amount of earnings remaining after deducting all…

Q: abc general accounting

A: Step 1: Definition of Gross and Net IncomeGross Earnings: The total income earned by an employee…

Q: Accounting 24

A: Step 1: Define Given DataSelling price per unit (P): $140Variable cost per unit (V): $110Fixed costs…

Q: Provide answer this general accounting question

A: Step 1: Define Standard Cost per UnitThe Standard Cost per Unit is the estimated cost of producing…

Q: The amount of gross profit

A: Concept of Absorption CostingAbsorption costing is a costing method that includes all manufacturing…

Q: What is the total amount of manufacturing overhead costs for the month?

A: Explanation of Direct Materials: Direct materials are raw materials that can be directly traced to…

Q: Hi expert please help this question

A: Step 1: Definition of Gross ProfitIt is shown in the income statement of the company. While…

Q: Subject: financial accounting

A: Explanation of Capital Gain: Capital gain represents the increase in value of an investment from its…

Q: Hi experts please provide answer this general accounting question

A: Step 1: Define Variable Cost per Machine HourTo estimate the variable cost per machine hour, we will…

Q: answer

A: To allocate the fringe benefits cost to Division A and Division B, we use the proportion of…

Q: need help this questions

A: Step 1: Definition of Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) represents…

Q: Correct answer with accounting

A: Step 1: Definition of Coupon RateThe coupon rate is the annual interest paid by a bond as a…

Q: Need help

A: 1. Understanding the Regression FormulaThe relationship between total overhead costs and direct…

Q: None

A: Step 1: Definition of Gross Profit and Gross Profit RatioGross Profit is the difference between net…

Q: abc general accounting

A: Step 1: Definition of Cash Receipts from Accounts ReceivableCash receipts refer to the total cash…

Q: Need help this question general accounting

A: Step 1: Definition of Current LiabilitiesBusiness associations assess the current liabilities amount…

Q: hello teacher please solve questions general accounting

A: Explanation:I cannot answer a question that is not provided. To receive a helpful response, please…

Q: Need help

A: Step 1: Define Cost of GoodsThe cost of goods includes all the costs that are incurred in the…

Q: correct answer please

A: Step 1: Definition of Labor Rate VarianceLabor rate variance is the difference between the actual…

Q: Net income general accounting

A: Step 1: Define Net IncomeNet income indicates that a company is performing well and generating…

Q: What does the selling price per unit need to be? General accounting question

A: Step 1: Definition of Contribution MarginContribution Margin is the amount remaining from sales…

Q: Actual profit? General accounting

A: Step 1: Analysis of information givenMargin of Safety = 25% or 0.25Break-even point sales =…

Q: Ans plz accounting question

A: Step 1: The overhead cost of $212,140 was incurred in July and the Activity level in the month was…

Q: General accounting

A: Step 1: DefinitionA note payable liability refers to a formal loan agreement where the borrower is…

Q: What was the percentage change in accounts receivable on these general accounting question?

A: Step 1: Define Percentage ChangeThe percentage change formula is used to determine the change in a…

Q: Hello tutor solve this question is accounting

A: Step 1: Define Debt to Equity RatioThe debt to equity ratio is an important financial metric that is…

Q: General Accounting Question

A: Step 1: Calculation of Budgeted Production unitsBudgeted Production = Budgeted Sales + Desired…

Q: Financial accounting question

A: Step 1: DefinitionThe percentage return on investment (ROI) measures the total gain or loss from an…

Q: General Accounting

A: Step 1: Define Estimated Ending InventoryThe Estimated Ending Inventory is calculated using the…

Q: Sub. General accounting

A: To calculate the cost of common equity, we can use the Dividend Discount Model (DDM) or the Gordon…

Q: According expert need your help general Accounting question

A: Step 1: DefinitionThe High-Low Method is a technique used to estimate fixed and variable costs based…

Q: Financial Accounting Question

A: Step 1: Define Stockholders' EquityStockholders' Equity represents the residual interest in the…

Q: General accounting

A: Step 1: DefinitionThe Accounts Receivable Turnover Ratio measures how efficiently a company collects…

Q: general accounting an

A: Step 1: Definition of Degree of Operating LeverageThe degree of operative leverage (DOL) indicates…

Q: What is the cost of goods sold on the sale?

A: Explanation of Cost of Goods Sold (COGS):The Cost of Goods Sold (COGS) refers to the direct costs of…

Q: 4 PTS

A: Concept of Actuarial Gains and LossesActuarial gains and losses refer to the unexpected changes in…

Q: Account receivables?

A: Step 1: Define Accounts Receivable Days OutstandingThe accounts receivable days outstanding (or days…

Q: i want to this question answer General accounting

A: Step 1: Calculation of required production unitsRequired Production = Sales + Desired Ending…

Q: The amount of overhead allocated to each product

A: Explanation of Overhead Allocation:Overhead allocation refers to the process of distributing…

Q: financial accounting an

A: Step 1: Definition of Balance SheetA balance sheet is one of the financial statements in a business.…

Q: answer is

A: Step 1: Definition of InvestmentInvestment is the allocation of resources, such as money, into an…

Q: fixed costs per month

A: Step 1: Definition of High-Low MethodThe high-low method is a technique used to estimate fixed and…

Q: need help this questions

A: The question requires the determination of the annual operating cash flow using the tax shield…

Q: Answer this Accounting MCQ

A: Explanation of Tax Revenue: Tax revenue represents the total amount of money a government collects…

Question

Need answer please

Andover Manufacturing completes Job
#725, which has a standard of 600 labor
hours at a standard rate of $21.00 per hour.
The job was completed in 720 hours, and
the average actual labor rate was $21.80
per hour.
What is the labor efficiency (quantity)
variance?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?
At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Lopez computes its overhead rates using practical volume, which is 80,000 units. The actual results for the year are as follows: (a) Units produced: 79,600; (b) Direct labor: 158,900 hours at 18.10; (c) FOH: 831,000; and (d) VOH: 112,400. Required: 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances.
Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid $32 per hour for labor, for a total of $718,848. The standard hours per unit are 6.4, and the standard labor wage rate is $38.40 per hour. A. What are the actual hours worked? B. What are the standard hours for the units made? C. What is the direct labor rate variance for April? D. What Is the direct labor time variance for April? E. What is the total direct labor variance for April?
Rulers Company is a neon sign company that estimated overhead will be $60,000, consisting of 1,500 machine hours. The cost to make Job 416 is $95 in neon, 15 hours of labor at $13 per hour, and five machine hours. During the month, it incurs $95 in indirect material cost, $130 in administrative labor, $320 in utilities, and $350 in depreciation expense. What is the predetermined overhead rate if machine hours are considered the cost driver? What is the cost of Job 416? What is the overhead incurred during the month?
Queen Industries uses a standard costing system in the manufacturing of its single product. It requires 2 hours of labor to produce 1 unit of final product. In February, Queen Industries produced 12,000 units. The standard cost for labor allowed for the output was $90,000, and there was an unfavorable direct labor time variance of $5,520. A. What was the standard cost per hour? B. How many actual hours were worked? C. If the workers were paid $3.90 per hour, what was the direct labor rate variance?
Compute the total job cost for each of the following scenarios: a. If the direct labor cost method is used in applying factory overhead and the predetermined rate is 100%, what amount should be charged to Job 2010 for factory overhead? Assume that direct materials used totaled 5,000 and that the direct labor cost totaled 3,200. b. If the direct labor hour method is used in applying factory overhead and the predetermined rate is 10 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, and the number of direct labor hours totaled 250. c. If the machine hour method is used in applying factory overhead and the predetermined rate is 12.50 an hour, what amount should be charged to Job 2010 for factory overhead? Assume that the direct materials used totaled 5,000, the direct labor cost totaled 3,200, the direct labor hours were 250 hours, and the machine hours were 295 hours.
Babu Company completes job #928 which has a standard of 610 labor hours at a standard rate of $19.30 per hour. The job was completed in 590 hours and the average actual labor rate was $19.10 per hour. What is the labor rate variance?
ans
Annapolis Company completes job #601 which has a standard of 500 labor hours at a standard rate of $19.00 per hour. The job was completed in 600 hours and the average actual labor rate was $19.70 per hour. What is the labor efficiency (quantity) variance?
Answer? ? General Accounting
General Accounting
Labor Rate?