During March 2020, Toby Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary data. Actual Standard Job Number Hours Costs Hours Costs Total Variance A257 210 $4,620 215 $4,730 $110 F A258 470 11,280 450 9,900 1,380 U A259 310 7,254 312 6,864 390 U A260 100 2,000 95 2,090 90 F Total variance $1,570 U 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.)
During March 2020, Toby Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary data. Actual Standard Job Number Hours Costs Hours Costs Total Variance A257 210 $4,620 215 $4,730 $110 F A258 470 11,280 450 9,900 1,380 U A259 310 7,254 312 6,864 390 U A260 100 2,000 95 2,090 90 F Total variance $1,570 U 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.)
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:During March 2020, Toby Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary
data.
Actual
Standard
Job Number
Hours
Costs
Total Variance
Costs
Hours
A257
210
$4,620
215
$4,730
$110 F
A258
470
11,280
450
9,900
1,380 U
A259
310
7,254
312
6,864
390 U
A260
100
2,000
95
2,090
90 F
Total variance
$1,570 U
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.)
Transcribed Image Text:TOBY TOOL & DIE COMPANY
Direct Labor Variance Report
Quantity
Actual
Standard
Variance
Rate
Rate
%24
%24
%24
%24
%24
>
>
>
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