Direct Labor VariancesBellingham Company produces a product that requires 7 standard hours per unit at a standard hourly rate of $20.00 per hour. If 5,500 unitsrequired 40,000 hours at an hourly rate of $19.40 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total directlabor cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.a. Direct labor rate varianceb. Direct labor time variance$c. Total direct labor cost variance

Calculation of direct labor rate, time and total direct labor cost variance:

Answered: Direct Labor Variances Bellingham…

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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Direct Materials Variances Bellingham Company produces a product that requires 11 standard pounds per unit. The standard price is $11.5 per pound. If 2,300 units used 26,100 pounds, which were purchased at $11.04 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance b. Direct materials quantity variance C. Direct mnaterials cost variance
Factory Overhead Volume Variance Dvorak Company produced 1,900 units of product that required 3 standard hours per unit. The standard fixed overhead cost per unit is $2.50 per hour at 6,000 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. $
5
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Direct Labor Variances Bellingham Company produces a product that requires 6 standard direct labor hours per unit at a standard hourly rate of $19.00 per hour. If 3,000 units used 18,500 hours at an hourly rate of $18.62 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? 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 1 b. Direct labor time variance $fill in the blank 3 c. Direct labor cost variance $fill in the blank 5
xam Direct Labor Variances Dvorak Company produces a product that requires 3 standard hours per unit at a standard hourly rate of $17 per hour. If 1,000 units required 2,800 hours at an hourly rate of $16.50 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance? 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 b. Direct labor time variance C. Total direct labor cost variance
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Direct Labor Variances Encinas Company produces a product that requires 3 standard hours per unit at a standard hourly rate of $21 per hour. If 2,300 units required 6,600 hours at an hourly rate of $20.50 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance? 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 Favorable ✓ b. Direct labor time variance Favorable c. Total direct labor cost variance Favorable ✓
Direct Materials Variances The following data relate to the direct materials cost for the production of automobile tires: Actual: 53,700 lbs. at $1.75 per lb.Standard: 52,100 lbs. at $1.80 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Line Item Description Amount Variance Direct Materials Price Variance $fill in the blank 1 Direct Materials Quantity Variance $fill in the blank 3 Total Direct Materials Cost Variance $fill in the blank 5
Direct Labor Variances Bellingham Company produces a product that requires 9 standard direct labor hours per unit at a standard hourly rate of $21.00 per hour. If 4,300 units used 37,200 hours at an hourly rate of $21.63 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? 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 b. Direct labor time variance C. Direct labor cost variance II
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Factory Overhead Volume Variance

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