During March 2020, Toby Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary data. Job Number Hours A257 A258 A259 A260 Total variance Job No. A257 A258 A259 220 A260 Actual 310 110 460 12,880 8.246 2.640 Hours Costs $5.500 225 $5,625 446 11,150 309 7,725 2.550 Costs Standard Actual Hours 102 Analysis reveals that Job A257 was a repeat job. Job A258 was a rush order that required overtime work at premium rates of pay. Job A259 required a more experienced replacement worker on one shift. Work on Job A260 was done for one day by a new trainee when a regular worker was absent. Prepare a report for the plant supervisor on direct labor cost variances for March. (Round actual rate and standard rate to 2 decimal places, eg. 10.50) Total Variance $125 F Totale 1,730 U Standard Hours 521 U 90 F $2,216 U Quantity Variance TOBY TOOL & DIE COMPANY Direct Labor Variance Report $ $ $ $ Actual Rate V $ $ $ $ Standard Rate Price Variance Price Variance

During March 2020, Toby Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary data. Job Number Hours A257 A258 A259 A260 Total variance Job No. A257 A258 A259 220 A260 Actual 310 110 460 12,880 8.246 2.640 Hours Costs $5.500 225 $5,625 446 11,150 309 7,725 2.550 Costs Standard Actual Hours 102 Analysis reveals that Job A257 was a repeat job. Job A258 was a rush order that required overtime work at premium rates of pay. Job A259 required a more experienced replacement worker on one shift. Work on Job A260 was done for one day by a new trainee when a regular worker was absent. Prepare a report for the plant supervisor on direct labor cost variances for March. (Round actual rate and standard rate to 2 decimal places, eg. 10.50) Total Variance $125 F Totale 1,730 U Standard Hours 521 U 90 F $2,216 U Quantity Variance TOBY TOOL & DIE COMPANY Direct Labor Variance Report $ $ $ $ Actual Rate V $ $ $ $ Standard Rate Price Variance Price Variance

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Description: During March 2020, Toby Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary data.Job NumberA257A258A259A260Total varianceJobNo.A257A258A259A260220Hours Costs Hours Costs Total Variance$5,500225 $5,625

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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Why was 66.66% was used in question h instead of 33.33%
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The billing price for job no. 100 per unit amounted to ________
45.
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