Need help Annapolis Company completes Job #601 which has a standard of 600labor hours at a standard rate of $18.50 per hour. The job wascompleted in 550 hours and the average actual labor rate was $19.20per hour.What is the labor rate variance? A negative number indicates afavorable variance and a positive number indicates an unfavorablevariance.

Step 1: Define Standard CostingStandard costing is a type of cost accounting that uses predetermined…

Answered: Annapolis Company completes Job #601…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 9DQ: At the end of the period, the factory overhead account has a credit balance of 10,000. (a) Is the...

See similar textbooks

Similar questions

Can you answer this accounting question?
What is the labor efficiency variance?
General Accounting
Accounting Annapolis company completed job #601 which has a standard of 650
The standard number of hours that should have been worked for the output attained is 6,000 direct labor hours and the actual number of direct labor hours worked was 6,300. If the direct labor price variance was $3,150 unfavorable, and the standard rate of pay was $9 per direct labor hour, what was the actual rate of pay for direct labor? Select one: a. $7.50 per direct labor hour b. $8.50 per direct labor hour c. $9.50 per direct labor hour d. $9.00 per direct labor hour e. $9.80 per direct labor hour
The standard number of hours that should have been worked for the output attained is 6,000 direct labor hours and the actual number of direct labor hours worked was 6,300. If the direct labor price variance was $3,145 unfavorable, and the standard rate of pay was $9 per direct labor hour, what was the actual rate of pay for direct labor? Do not round intermediate calculations and round your answer to 2 decimal places.
Need help. accounting
Standard time allowed to complete one unit is 2 hours. A worker during a week (48 hours) completed 20 units and drawn a salary of Rs. 6000. The standard rate per day of 8 hours shift is Rs. 1000. Which one of the following is true? A.Labour efficiency variance is Zero B.Labour rate variance is zero C.Labour cost variance is zero D.None of the above
Provide correct answer. accounting
A company shows a $24,000 unfavorable direct labor rate variance and a $18,000unfavorable direct labor efficiency variance. The company's standard cost of direct labor is $370,000. What is the actual cost of direct labor? Actual cost of direct labor
Beverly Company has determined a standard variable overhead rate of $3.90 per direct labor hour and expects to incur 0.50 labor hour per unit produced. Last month, Beverly incurred 1,650 actual direct labor hours in the production of 3,400 units. The company has also determined that its actual variable overhead rate is $2.40 per direct labor hour. Calculate the variable overhead rate and effeciency variances as well as the total amount of over-or underapplied variable overhead. . Variable Overhead Rate Variance=2,475 Favorable Variable Overhead Effeciency Variance=195 Favorable Variable Overhead Cost Variance?
Titus Company produced 3,200 units of a product that required 3.243 standard hours per unit. The standard fixed overhead cost per unit is $2.00 per hour at 10,600 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance. Enter a favorable variance as a negative number. Round your answer to the nearest dollar.$ ________________ Favorable or Unfavorable?

SEE MORE QUESTIONS

Recommended textbooks for you

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

SEE MORE TEXTBOOKS