Give labor rate variance Annapolis Company completes job #601which has a standard of 610 labor hours ata standard rate of $19.30 per hour. The jobwas completed in 590 hours and theaverage actual labor rate was $19.10 perhour.What is the labor rate variance?

Answered: Image /qna-images/answer/b6b92f97-b208-4acf-8781-9b9da709b866.jpg

Answered: Annapolis Company completes job #601…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 8PA: Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate...

See similar textbooks

Similar questions

Coops Stoops estimated its annual overhead to be $85,000 and based its predetermined overhead rate on 24,286 direct labor hours. At the end of the year, actual overhead was $90,000 and the total direct labor hours were 24,100. What is the entry to dispose of the over applied or under applied overhead?
General Accounting
REQUIREMIENTS: What is the predetermined overhead rate? What is the amount of overhead applied for February? If the actual overhead for February is $64,700, what is the overhead variance and is it overapplied or underapplied?
Cavy Company estimates that total factory overhead costs will be $572,128 for the year. Direct labor hours are estimated to be 94,100. a. Determine the: 1. Predetermined factory overhead rate. Round your answer to the nearest cent.$fill in the blank acece905b02a058_1 per labor hour 2. Amount of factory overhead applied to Job 345 if the amount of direct labor hours is 1,200 and Job 777 if the amount of direct labor hours is 3,300. Job 345 $fill in the blank acece905b02a058_2 Job 777 $fill in the blank acece905b02a058_3 b. Journalize the entry to apply factory overhead for April, assuming Jobs 345 and 777 are the only jobs in production during the month. If an amount box does not require an entry, leave it blank. - Select - - Select - - Select - - Select - - Select - - Select -
Coleridge Company estimates that its production workers will work 143,000 direct labor hours during the upcoming period and that overhead costs will amount to $1,287,000. Assume overhead to be allocated on the basis of direct labor hours. What predetermined overhead rate would be used to apply overhead to production during the period? Multiple Choice $9.00 per direct labor hour $0.97 per direct labor hour $0.97 per unit $9.00 per unit
Amazing Corporation gathered the following information for Job #928: Standard Total Cost Actual Total Cost Direct labor: Standard: 900 hours at $6.50/hr. $5,850 Actual: 200 hours at $4.75/hr. $950 What is the direct labor efficiency variance?
Cavy Company estimates that total factory overhead costs will be $1,039,500 for the year. Direct labor hours are estimated to be 110,000.
The details regarding Labour force engaged in a work scheduled to be completed in 30 hours are as follows:- The work is actually completed in 32 hours. Calculate Labour Variances. Show your working clearly.
Tub Co. uses a standard cost system. The following information pertains to direct labor for product B for the month of October: Standard hours allowed for actual production 2,000 Actual rate paid per hour P 8.40 Standard rate per hour P 8.00 Labor efficiency variance P 1,600UF What were the actual hours worked? 1,810 2,200 2,190 1,800
The details regarding composition and the weekly wage rate of labour force engaged on a job scheduled to be completed in 30 weeks is as follows, Number of workers- Stadard skilled 75, standard semi skilled 45, actual skilled 70, acutal semi skilled 30, Weekly wage rate in Rs Standard skilled 60, standard semi skilled 40, actual skilled 70, actual semi skilled 50, the work is actually completed in 32 weeks, What is labour rate variance for semiskilled? O a. 300(A) O b. 9,000(A) O c. 9,600(A) O d. 9,000(F)
Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) Standard direct labor hours allowed (SQ) 60,000 Total payroli for direct labor Direct labor efficiency variance 64,000 $ 960,000 $ 58,800 The actual direct labor rate per hour (AP) for February was: Multiple Choice O $14.70. $15.00. $16.00. O $17.30. $17.60.
Company XYZ uses labor hours to allocate its manufacturing overhead. The direct labor cost rate is $8 per direct labor hour. The company estimates that the number of labor hours to be used next month is 600,000 labor hours. The estimated variable overhead is estimated to be 75% of the direct labor cost rate. The estimated fixed overhead costs are $50,000. Calculate .the predetermined overhead rate 2.08 .a 6.08 .b O .c O 4.08 .d O None of the given answers .e

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Principles of Cost Accounting

Accounting

ISBN:

9781305087408

Author:

Edward J. Vanderbeck, Maria R. Mitchell

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

Annapolis Company completes job #601 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?