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Casey Co. Kevin, Inc. Jess Company Valerie, Inc. Units produced 2,500 1,400 170 1,000 Standard hours per unit 4.50 1.40 3.00 Standard hours 11,250 1,960 510 Standard rate per hour 24.50 $ 16.00 $ 10 Actual hours worked 11,100 2,060 10,400 Actual labor cost $ 6,600 $ 95,000 Direct labor rate variance $ 3,600 F $ 2,000 F $ 200 U Direct labor efficiency variance $ 1,290 U 2$ 4,900 U

Casey Co. Kevin, Inc. Jess Company Valerie, Inc. Units produced 2,500 1,400 170 1,000 Standard hours per unit 4.50 1.40 3.00 Standard hours 11,250 1,960 510 Standard rate per hour 24.50 $ 16.00 $ 10 Actual hours worked 11,100 2,060 10,400 Actual labor cost $ 6,600 $ 95,000 Direct labor rate variance $ 3,600 F $ 2,000 F $ 200 U Direct labor efficiency variance $ 1,290 U 2$ 4,900 U

FINANCIAL ACCOUNTING
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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Please fill in all the missing numbers

For each of the following independent cases, fill in the missing amounts: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your per unit rates to 2 decimal places.) Casey Co. Kevin, Inc. Jess Company Valerie, Inc. Units produced 2,500 1,400 170 1,000 Standard hours per unit 4.50 1.40 3.00 Standard hours 11,250 1,960 510 Standard rate per hour $ 24.50 $ 16.00 $ 10 Actual hours worked 11,100 2,060 10,400 Actual labor cost $ 6,600 $ 95,000 Direct labor rate variance $ 3,600 F $ 2,000 F $ 200 U F Direct labor efficiency variance F 1,290 $ 4,900 U
Transcribed Image Text:For each of the following independent cases, fill in the missing amounts: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round your per unit rates to 2 decimal places.) Casey Co. Kevin, Inc. Jess Company Valerie, Inc. Units produced 2,500 1,400 170 1,000 Standard hours per unit 4.50 1.40 3.00 Standard hours 11,250 1,960 510 Standard rate per hour $ 24.50 $ 16.00 $ 10 Actual hours worked 11,100 2,060 10,400 Actual labor cost $ 6,600 $ 95,000 Direct labor rate variance $ 3,600 F $ 2,000 F $ 200 U F Direct labor efficiency variance F 1,290 $ 4,900 U
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