Delmar Incorporated uses a standard cost system. Labor standards are 2.00 hours per widget at $13.40 per hour. During August,Delmar Incorporated paid its workers $227,070 for 16,820 hours. Delmar Incorporated produced 8,610 widgets during AugustRequired:a. Calculate the direct labor rate variance.Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or"None" for no effect (i.e., zero variance).b. Calculate the direct labor efficiency variance.Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or"None" for no effect (i.e., zero variance).c. Calculate the direct labor spending variance.Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or"None" for no effect (i.e., zero variance).a. Rate Varianceb.Efficiency Variancec. Spending Variance

In conclusion, The direct labor rate variance is $1,682 (favorable),The direct labor efficiency…

Answered: Delmar Incorporated uses a standard…

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 help me to calculate direct labor rate variance.....??
Blue Devil Inc.’s direct labor cost information for April 2021 is as follows. Standard Costs: Units of Production 7,600 units Hours of Production 0.75 hour Wage Rate $13.60 per hour Actual Costs: Units of Production 7,600 units Total Hours of Production 5,900 hours Wage Rate $13.80 per hour Required: Prepare the journal entries to record standard costs, actual costs, and related variances for direct labor. (Hint: the related accounts include work-in-process, wages payable, rate variance, and efficiency variance)
A. Show the solution for each. Compute in details the Variable Manufacturing Overhead Variances - Spending and Efficiency. B. Show the solution for each. Compute in details the Fixed Manufacturing Overhead Variances - Budget and Volume.
The records of Heritage Home Supplies show the following for July: Standard direct labor-hours allowed per unit of output 4 Standard variable overhead rate per standard direct labor-hour $ 44 Good units produced 3,800 Actual direct labor-hours worked 14,675 Actual total direct labor cost $ 537,200 Direct labor efficiency variance $ 19,530 F Actual variable overhead $ 645,700 Required: Compute the direct labor and variable overhead price and efficiency variances. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Direct labor: Price variance Efficiency variance Variable overhead: Price variance Efficiency variance need help
The records of Heritage Home Supplies show the following for July: Standard direct labor-hours allowed per unit of output Standard variable overhead rate per standard direct labor-hour Good units produced Actual direct labor-hours worked Actual total direct labor cost Direct labor efficiency variance Actual variable overhead Required: Compute the direct labor and variable overhead price and efficiency variances. $ 34 3,600 13,925 $ 510,200 $ 17,670 F $ 473,450 Note: Do not round Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Direct labor: Price variance Efficiency variance Variable overhead: Price variance Efficiency variance
Marsden Company has three departments occupying the following amount of floor space: 20,000 square feet 10,500 square feet 30,000 square feet Department 1 Department 2 Department 3 How much store rent should be allocated to Department 3 if total rent is equal to $94,000? Note: Do not round Intermediate calculations. Multiple Choice $30,000 $46.612 $16,314 None of the answers are correct.
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 Inputs Direct labor Standard Price or Rate $20.40 per hour The company has reported the following actual results for the product for January: Actual output 5,100 units 3,380 hours. Actual direct labor-hours Actual direct labor cost The labor efficiency variance for the month is closest to: O $3,876 U O $4.199 F O $4,199 U O $3,876 F $ 74,698
Answer complete question please, otherwise skip it, answer in text form please (without image)
answer in text form please (without image)
A manufactured product has the following Information for June. Standard Quantity and Cost 7 pounds @ $7 per pound 2 DLH @ $16 per DLH 2 DLH@ $12 per DLH Direct materials Direct labor Overhead Units manufactured Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no varlance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH - Standard Hours = AR = Actual Rate SR = Standard Rate Actual Results 58,600 pounds @ $7.20 per pound 16,300 hours @ $16.50 per hour $ 205,500 8,300 units Actual Cost Standard Cost
For the month of April, compute the variances, indicating whether it is favorable (F) or unfavorable (U) Q.Production-volume variance.
Bonnie Company applies overhead based on machine hours. The variable overhead standard is 24 hours at $19.00 per hour. During March, Bonnie spent $314,150 for variable overhead, and 13,280 machine hours were used to produce 60 units. What is the variable overhead rate variance? Note: Do not round intermediate calculation. Multiple Choice O $15.600 unfavorable $61,830 unfavorable $12.800 unfavorable $61.830 favorable

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