Hi expart Provide answer this general accounting question Cafferty Corporation has provided the following data concerning its directlabor costs for MarchStandard wage rate: $12.80 per DLHStandard hours: 1.3 DLHS per unitActual wage rate: $12.50 per DLHActual hours: 2,850 DLHsActual output: 2,000 unitsThe labor rate variance for March would be recorded as a :- Credit of $855-Credit of $780- Debit of $780- Debit of $855

Step 1: Define Standard CostingStandard costing helps in identifying the difference between the…

Answered: Cafferty Corporation has provided the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 8PA: Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate...

See similar textbooks

Similar questions

Information for Garner Company’s direct-labor costs for the month of September was as follows: Actual direct-labor hours 34,500 hours Standard direct-labor hours 35,000 hours Total direct-labor payroll $241,500 Direct-labor efficiency variance—favorable $3,200 What is Garner’s direct-labor price (or rate) variance?
The following data relate to direct labor information for product C for the month of October is as follows: Standard rate P6.10 per hour Actual rate paid P6.00 per hour Standard hours allowed for actual production 1,500 hours Labor Efficiency Variance P600 unfavorable What is the actual hours worked?
Vermont Inc. has provided the following data concerning one of the products in its standard cost system. Standard Quantity or Hours per Unit of Output 0.20 hours Inputs Direct labor The company has reported the following actual results for the product for May: Actual output Actual direct labor-hours Actual direct labor rate. The labor rate variance for the month is closest to: $2,576 U O $2,816 U O $2,816 F Standard Price or Rate $21.70 per hour O $2,576 F 8,800 units 1,610 hours S 23.30 per hour
A manager prepared the following table by which to analyze labor costs for the month: Actual hours at Actual rate is P10,000; Actual hours at Standard rate is P9,800 and Standard hours at Standard rate, P 8,820. What variance is P1,180? * idle labor variance labor efficiency variance labor spending variance total labor variance
Acacia Manufacturing has compiled the following information from the accounting system for the one product it sells: $ 45 per unit Sales price Fixed costs (for the month) Marketing and administrative Manufacturing overhead Variable costs (per unit) Marketing and administrative Direct materials Manufacturing overhead Direct labor Units produced and sold (for the month) Required: a. Determine the variable manufacturing cost per unit. b. Determine the variable cost per unit. c. Determine the full absorption cost per unit Note: Round your answer to 2 decimal places. d. Determine the full cost per unit Note: Round your answer to 2 decimal places. $ 23,100 $ 8,400 Exercise 2-54 (Static) Components of Full Costs (LO 2-6) a. Variable manufacturing cost per unit b. Variable cost per unit c. Full absorption cost per unit d. Full cost per unit $2 $ 13 $3 $9 21,000
The following data are available for February: The actual direct labor rate for February is:
Using high-low method, what is the cost formula for estimating costs?
please solve this question for me
The following data are available for February: Actual direct labor-hours worked ... 6500 hours Standard direct labor rate ...... $8 per hour Labor rate variance .. $2600 favorable The actual direct labor rate for February is:
AGL Inc. provided the following data related to the direct labor costs for the current period: Data Related to Direct Labor Costs Data Rate Hours Standard $17.50 12,000 Actual $15.50 14,000 Determine the direct labor rate variance. Group of answer choices $7,000 unfavorable $28,000 unfavorable -$28,000 favorable -$7,000 favorable
Meman
Douglas Inc. has provided the following data concerning one of the products in its standard cost system. Standard Quantity or Hours per Unit of Output 0.70 hours Standard Price or Rate. $20.40 per hour The company has reported the following actual results for the product for January: Actual output Actual direct labor-hours Actual direct labor cost Inputs Direct labor The labor rate variance for the month is closest to: O $5,746 U $6,069 F O $5,746 F O $6,069 U 5,100 units 3,380 hours $ 74,698

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

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

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

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS