еВookShow Me HowDirect Labor VariancesThe following data relate to labor cost for production of 22,000 cellular telephones:Actual:4,220 hrs, at $44.50Standard:4,160 hrs. at $46.00a. Determine the direct labor rate variance, direct labor time variance, and 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.FavorableRate varianceUnfavorableTime variance%$4FavorableTotal direct labor cost variancelabor rate than planned. The lower level of experience or training may haveb. The employees may have been less-experienced workers who were paid less than more-experienced workers or poorly trained, thereby resulting in a lowerthan standard.resulted in lessefficient performance. Thus, the actual time required was more еBookShow Me HowDirect Materials and Direct Labor Variance AnalysisAbbeville 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 weekfollows:Standard wage per hr.$15.00Standard labor time per faucet40 min.Standard number of Ib. of brass3 lb.Standard price per Ib. of brass$2.40Actual price per Ib. of brass$2.50Actual Ib. of brass used durìng the week14,350 lb.Number of faucets produced during the week4,800Actual wage per hr.$14.40Actual hrs. for the week3,240 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 unitDirect labor standard cost per unitTotal standard cost per unitb. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Round your ansswers to two decimal places, if necessary. Enter a favorable variance as a negative number using a minussign and an unfavorable variance as a positive number.Direct materials price variance24Unfavorable vFavorableDirect materials quantity varianceTotal direct materials cost variance$4Unfavorable vc. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a posítive number.Direct labor rate variance$4FavorableUnfavorable vDirect labor time varianceTotal direct labor cost varianceFavorable

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Description: еВookShow Me HowDirect Labor VariancesThe following data relate to labor cost for production of 22,000 cellular telephones:Actual:4,220 hrs, at $44.50Standard:4,160 hrs. at $46.00a. Determine the direct labor rate variance, direct labor time varianc

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Direct Labor Variances The following data relate to labor cost for production of 22,000 cellular telephones: Actual: 4,220 hrs. at $44.50 Standard: 4,160 hrs. at $46.00 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable varlance as a positive number. Favorable Rate variance Unfavorable Time variance Favorable Total direct labor cost variance labor rate than planned. The lower level of experience or training may have b. The employees may have been less-experienced workers who were paid less than more-experienced workers or poorly trained, thereby resulting in a lower resulted in less efficient performance. Thus, the actual time required was more than standard.

Direct Labor Variances The following data relate to labor cost for production of 22,000 cellular telephones: Actual: 4,220 hrs. at $44.50 Standard: 4,160 hrs. at $46.00 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable varlance as a positive number. Favorable Rate variance Unfavorable Time variance Favorable Total direct labor cost variance labor rate than planned. The lower level of experience or training may have b. The employees may have been less-experienced workers who were paid less than more-experienced workers or poorly trained, thereby resulting in a lower resulted in less efficient performance. Thus, the actual time required was more than 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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