المحاسبهة الادارية نظر Clark Company manufactures a product with a standard direct labor cost of two hours at $18.00 per hour. During July, 2,000 units were produced using 4,200 hours at $18.30 per hour. The direct labor price variance was Select one: a. $4,860 U b. $1,260 U. C. $3,600 U d. $4,860 F. e. $3,200 U

المحاسبهة الادارية نظر Clark Company manufactures a product with a standard direct labor cost of two hours at $18.00 per hour. During July, 2,000 units were produced using 4,200 hours at $18.30 per hour. The direct labor price variance was Select one: a. $4,860 U b. $1,260 U. C. $3,600 U d. $4,860 F. e. $3,200 U

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Description: sleal University - KadoorieMy courses20203الفرع الرئيسيالأعمال والاقتصسادانظمة معلومات محاسبيةالمحاسبة الادارية نظري - طولكرمالامتحان النالمحاسبة الإدارية نظريClark Company manufactures a product with a standard direct labor cost of two hours at $18

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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in America AS... ework i Exercise 23-12 (Algo) Direct materials and direct labor variances LO P3 Camila Company has set the following standard cost per unit for direct materials and direct labor. Direct materials (15 pounds @ $5 per pound) Direct labor (4 hours @ $14 per hour) During June the company incurred the following actual costs to produce 8,000 units. Direct materials (122,600 pounds @ $4.70 per pound) Direct labor (35,400 hours @ $14.10 per hour) AR= Actual Rate SR Standard Rate AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances. (2) Compute the direct labor rate variance and the direct labor efficiency variance. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Actual Cost Compute the direct materials price and quantity variances. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. $ $75 56 0 $ $…
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Question Grant Company's standard materials cost per unit of output is $10.00 (2.00 pounds x $5.00 per pound). During July, the company purchases and uses 2,420 pounds of materials costing $12,826 in making 1,100 units of finished product. Compute the total material variance. O $726 unfavorable O $1,826 favorable O $2,926 unfavorable O $1,826 unfavorable
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures units in a small manufacturing facility. The units are made from brass. Manufacturing has 30 employees. Each employee presently provides 40 hours of labor per week. Information about a production week is as follows: Standard wage per hour $12 Standard labor time per unit 15 min. Standard number of lbs. of brass 1.5 lbs. Standard price per lb. of brass $11.25 Actual price per lb. of brass $11.5 Actual lbs. of brass used during the week 9,734 lbs. Number of units produced during the week 6,300 Actual wage per hour $12.36 Actual hours for the week (30 employees × 40 hours) 1,200 hrs. Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit $fill in the blank 1 Direct labor standard cost per unit $fill in the blank 2 Total standard cost per unit $fill in…
#21 ToolTime has a standard of 2 hours of labor per unit, at P12 per hour. In producing 2,000 units, ToolTime used 3,850 hours of labor at a total cost of P46,970. ToolTime’s labor price variance is Group of answer choices P770 U. P800 U. P1,030 F. P1,930 F. 22. ToolTime has a standard of 2 hours of labor per unit, at P12 per hour. In producing 2,000 units, ToolTime used 3,850 hours of labor at a total cost of P46,970. ToolTime’s labor quantity variance is Group of answer choices P770 U. P1,030 F. P1,800 F. P1,930 F.
The standard cost card for product Alpha is as follows: £ Direct material 5kg@ £11.50 per kg 57.50 Direct Labour 4 labour hours @£9 per hour 36.00 93.50 In the period just ended 3,000 units were produced and costs were incurred as follows: Quantity Cost (£) Direct material 15900kg 180465 Direct labour 11550 hours 106260 286725 Required: Calculate the direct materials price variance for product Alpha. Calculate the direct labour rate variance for product Alpha. Explain the factors that need to be taken into account when deciding to investigate a variance.
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