ed ers Use the following information to complete variance analysis for Maple Co. Budgeted Units 40,000 Budgeted Selling Price $55 Budgeted Direct Labor (3 hours @ $13/hour $39 per unit Actual Direct Labor Hours Actual Cost of Direct Labor Actual Selling Price Budgeted Direct Materials (4 lbs @ $3/lb) Actual Direct Materials Used Actual Units Actual Cost of Direct Materials Used 120,000 $1,530,000 $50 $12 per unit 108,000 (with margin: 0) 189,000 42,000 units $491,400 What is the Direct Labor Variance? Please enter your answer as a positive number. You will not be able to answer whether the variance is favorable or unfavorable. Just including the numeric answer is complete for this question.
ed ers Use the following information to complete variance analysis for Maple Co. Budgeted Units 40,000 Budgeted Selling Price $55 Budgeted Direct Labor (3 hours @ $13/hour $39 per unit Actual Direct Labor Hours Actual Cost of Direct Labor Actual Selling Price Budgeted Direct Materials (4 lbs @ $3/lb) Actual Direct Materials Used Actual Units Actual Cost of Direct Materials Used 120,000 $1,530,000 $50 $12 per unit 108,000 (with margin: 0) 189,000 42,000 units $491,400 What is the Direct Labor Variance? Please enter your answer as a positive number. You will not be able to answer whether the variance is favorable or unfavorable. Just including the numeric answer is complete for this question.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Concept explainers
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
Topic Video
Question
Please do not give solution in image format thanku
Transcribed Image Text:ed
ers
Use the following information to complete variance analysis for Maple Co.
Budgeted Units
40,000
Budgeted Selling Price
$55
Budgeted Direct Labor (3 hours @ $13/hour $39 per unit
Actual Direct Labor Hours
Actual Cost of Direct Labor
Actual Selling Price
Budgeted Direct Materials (4 lbs @ $3/lb)
Actual Direct Materials Used
Actual Units
Actual Cost of Direct Materials Used
120,000
$1,530,000
$50
$12 per unit
108,000 (with margin: 0)
189,000
42,000 units
$491,400
What is the Direct Labor Variance? Please enter your answer as a positive
number. You will not be able to answer whether the variance is favorable or
unfavorable. Just including the numeric answer is complete for this
question.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education