Direct labor variancesAlvarado Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $20.00 per hour. 15,900 units used 65,500 hours at anhourly rate of $19.15 per hour.This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.Open spreadsheetWhat is the direct labor (a) rate variance, (b) time variance, and (e) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative numberusing a minus sign and an unfavorable variance as a positive number.a. Direct labor rate varianceb. Direct labor time variancec. Direct labor cost varianceFavorableUnfavorableUnfavorable✓✓

Standard hours (SH): Actual production x Standard hours per unit = 15,900 units x 3 hours = 47,700…

Answered: Direct labor variances Alvarado Company…

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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еBook Show Me How Direct Materials and Direct Labor Variance Analysis Abbeville Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 90 employees. Each employee presently provides 36 hours of labor per week. Information about a production week follows: Standard wage per hr. $15.00 Standard labor time per faucet 40 min. Standard number of Ib. of brass 3 lb. Standard price per Ib. of brass $2.40 Actual price per Ib. of brass $2.50 Actual Ib. of brass used durìng the week 14,350 lb. Number of faucets produced during the week 4,800 Actual wage per hr. $14.40 Actual hrs. for the week 3,240 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 Direct labor standard cost per unit Total standard cost per unit b. Determine the direct materials price variance, direct materials quantity variance, and total…
Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 40 employees. Each employee presently provides 40 hours of labor per week. Information about a production week is as follows: Standard wage per hour $17.40 Standard labor time per unit 20 min. Standard number of lbs. of brass 1.2 lbs. Standard price per lb. of brass $10.25 Actual price per lb. of brass $10.50 Actual lbs. of brass used during the week 9,641 lbs. Number of units produced during the week 7,800 Actual wage per hour $17.92 Actual hours for the week (40 employees × 40 hours) 1,600 Required: a. Determine the A detailed estimate of what a product should cost.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 $ Direct labor standard cost per unit $ Total standard cost per…
Direct Materials and Direct Labor Variance Analysis Abbeville Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 70 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hr. $16.20 Standard labor time per faucet 10 min. Standard number of lb. of brass 1.60 lb. Standard price per lb. of brass $12.50 Actual price per lb. of brass $12.75 Actual lb. of brass used during the week 13,800 lb. Number of faucets produced during the week 8,400 Actual wage per hr. $16.70 Actual hrs. for the week 2,240 hrs. Required: a. Determine the standard cost per unit for direct materials and direct labor. Do not round your intermediate calculations and 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…
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Direct labor variances Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $21.00 per hour. 15,300 units used 61,000 hours at an hourly rate of $19.80 per hour. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. 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 2 b. Direct labor time variance $fill in the blank 4 c. Direct labor cost variance $fill in the blank 6
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ACTUAL Direct Materials Direct Labor Summary Mat. Req. No. Description Amount Time Ticket No. Description Amount Item Amount Direct Materials 132 360 meters at $32 H9 18 hours at $19 Direct Labor 134 50 meters at $32 H12 18 hours at $19 Factory Overhead Total Total Total Cost Feedback V Check My Work 1 & 2. Include the estimated and actual direct materials and direct labor. Include the estimated and applied factory overhead. What is the best explanation for the variances between actual costs and estimated costs. For this purpose, assume that the additional meters of material used in the job were spoiled, the factory overhead rate has proven to be satisfactory, and an inexperienced employee performed the work. a. The direct materials cost exceeded the estimate by $40 because 2 meters of materials were spoiled. b. Management didn't provide enough direction to complete tasks on budget. c. The direct materials cost exceeded the estimate by $320 because 10 meters of materials were spoiled.…
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Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 60 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $13.80 Standard labor time per unit 20 min. Standard number of Ibs. of brass 1.3 lbs. Standard price per Ib. of brass $9.75 Actual price per Ib. of brass $10.00 Actual Ibs. of brass used during the week 8,034 lbs. Number of units produced during the week 6,000 Actual wage per hour $14.21 Actual hours for the week (60 employees x 32 hours) 1,920 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 13 X Direct labor standard cost per unit 4.6 V Total standard cost per unit 17.3 X b. Determine the direct materials price variance, direct…

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