Bellingham Company produces a product that requires 10 standard direct labor hours per unit at a standard hourly rate of $13.00 per hour. If 5,200 units used 53,600 hours at an hourly rate of $12.35 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance b. Direct labor time variance c. Direct labor cost variance %24

Bellingham Company produces a product that requires 10 standard direct labor hours per unit at a standard hourly rate of $13.00 per hour. If 5,200 units used 53,600 hours at an hourly rate of $12.35 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance b. Direct labor time variance c. Direct labor cost variance %24

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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Direct Labor Variances 2.Bellingham Company produces a product that requires 2 standard direct labor hours per unit at a standard hourly rate of $18.00 per hour. If 5,100 units used 10,400 hours at an hourly rate of $17.28 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance $fill in the blank 1 favorable/unfavorable b. Direct labor time variance $fill in the blank 3 favorable/unfavorable c. Direct labor cost variance $fill in the blank 5 favorable/unfavorable
Japan Company produces lamps that require 3 standard hours per unit at an hourly rate of $11.60 per hour. Production of 6,700 units required 19,700 hours at an hourly rate of $11.30 per hour. Enter favorable variances as negative numbers. (a) Determine the direct labor rate variance. (b) Determine the direct labor time variance. (c) Determine the cost variance. %24
$6.00 per hour. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Variance Amount Favorable/Unfavorable Controllable variance Volume variance Total factory overhead cost variance %24 %24 %24
Which assets depreciate?
Please fill in these charts
36. Japan Company produces lamps that require 2 standard hours per unit at a standard hourly rate of $16.00 per hour. Production of 4,900 units required 10,000 hours at an hourly rate of $15.50 per hour. What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? Enter favorable variances as negative numbers. a. Direct labor rate variance $ UF? b. Direct labor time variance $ UF? c. Total direct labor cost variance $ UF?
Direct Labor Variances Bellingham Company produces a product that requires 9 standard direct labor hours per unit at a standard hourly rate of $13.00 per hour. If 5,200 units used 48,700 hours at an hourly rate of $12.74 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance $ b. Direct labor time variance $ c. Direct labor cost variance $
Starts Inc. produces a product that require 3.50 standard hours per unit at a standard hourly rate of $17.00 per hour. Production of 7,500 units required 27,550 hours at an hourly rate of $16.00 per hour. What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? (d) Perform the journal entries related to the variances.
The total variance is $44000 unfavorable. the total materials variance is $20000 unfavorable. The total labor variance is twice the total overhead variance. What is the total overhead variance?
3. Compute the direct labor variance, including its rate and efficiency variances. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Round "Rate per hour" answers to two decimal places.) The drop down options under "actual cost" "standard cost" and the middle box for the first row are: actual rate, standard rate The drop down options for the left bottom 3 rows are: total variable overhead cost variance, variable overhead efficiency variance, variable overhead spending variance, volume variance, direct material variance, Direct labor efficiency variance, direct labor rate variance, direct materials price variance, direct materials quantity variance. the drop down options for the right yellow 3 columns are: favorable, unfavorable, no variance please use the exact format as shown in photos. Thank you !
Oriole Company's actual results reveal that it was profitable in the sale of its star product: a high-end spot-cleaning vacuum for upholstery. But it was not nearly as profitable as management had hoped. Oriole's actual income statement and master budget income statement are as follows. In order to keep the focus on product costs, SG&A costs were omitted. Units sold Revenues Variable costs DM DL Variable-MOH Contribution margin Fixed-MOH Operating income DM DL Input Variable-MOH Actual Results Fixed-MOH 10,000 $1,670,000 560,500 216,000 Here are the company's standard cost cards for each product cost. 130,500 763,000 306,000 $457,000 Quantity Standards 3.0 yards 1.6 hours 1.6 hours. Flexible Budget 1.6 hours Price Standards $18.00 per yard $11.00 per hour $7.50 per hour $15.50 per hour Master Budget 12,000 $2,076,000 648,000 211,200 144,000 1,072,800 297,600 $775,200 Standard Cost per Unit $54.00 $17.60 $12.00 $24.80