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...

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What is the labor efficiency variance?
General Accounting
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
For a simple regression analysis model that is used to allocate factory overhead, an internal auditor finds that the intersection of the line of best fit for the overhead allocation with the y-axis is $14,000. The slope of the line is 0.2. The independent variable, factory wages, amounts to $810,000 for the month. What is the estimated amount of factory overhead to be allocated for the month? Multiple Choice $289,400. $162.000. $68,000. $88,000.
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.
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
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?
The standard number of hours that should have been worked for the output attained is 10,000 direct labor hours and the actual number of direct labor hours worked was 10,500. If the direct labor rate variance was P10,500 unfavorable, and the standard rate of pay was P12 per direct labor hour, what was the actual rate of pay for direct labor? A. P11 per hour B. P9 per hour C. P13 per hour D. P12 per hour
The standard number of hours that should have been worked for the output attained is 6000 direct labor hours and the actual number of direct labor hours worked was 6300. If the direct labor price variance was $3150 unfavorable and the standard rate of pay was $8.0 per direct labor hour, what was the actual rate of pay for direct labor? $7.50 per direct labor hour $6.50 per direct labor hour $8.50 per direct labor hour O $8.00 per direct labor hour
1) Factory Overhead Volume Variance Bellingham Company produced 5,100 units of product that required 1.5 standard direct labor hours per unit. The standard fixed overhead cost per unit is $2.20 per direct labor hour at 7,050 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Favorable or unfavorable? 2) Factory Overhead Controllable Variance Bellingham Company produced 5,400 units of product that required 5.5 standard direct labor hours per unit. The standard variable overhead cost per unit is $6.00 per direct labor hour. The actual variable factory overhead was $170,360. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Favorable or Unfavorable?

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