Europa Company manufactures only one product. Presented below is direct labor information for November. Standard direct labor hours per unit of product Number of finished units produced Standard wage rate per direct labor hour (SP) Total direct labor payroll for the period Actual wage rate per direct labor hour worked (AP) The direct labor flexible-budget variance for November was: 4.50 5,000 $ 20.50 $ 410,010 $ 17.30 Multiple Choice О $23,700 unfavorable. $24,600 unfavorable. $51,240 favorable.

Europa Company manufactures only one product. Presented below is direct labor information for November. Standard direct labor hours per unit of product Number of finished units produced Standard wage rate per direct labor hour (SP) Total direct labor payroll for the period Actual wage rate per direct labor hour worked (AP) The direct labor flexible-budget variance for November was: 4.50 5,000 $ 20.50 $ 410,010 $ 17.30 Multiple Choice О $23,700 unfavorable. $24,600 unfavorable. $51,240 favorable.

Name: Europa Company manufactures only one product. Presented below is dire
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Description: Europa Company manufactures only one product. Presented below is direct labor information for November.Standard direct labor hours per unit of productNumber of finished units produced4.505,000$ 20.50Standard wage rate per direct labor hour (SP)Total

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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Penny Company manufactures only one product and uses a standard cost system. The following information is from Penny's records for May: Direct labor rate variance $15,000 favorable Direct labor time variance $30,000 unfavorable Standard hours per unit produced 2.50 Standard rate per hour $25 During May, the company used 12.50% more hours than the standard allowed. A. What were the total standard hours allowed for the units manufactured during the month? standard hours B. What were the actual hours worked? actual hours C. How many actual units were produced during May? units produced
Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) 61,500 Standard direct labor hours allowed (SQ) 63,000 Total payroll for direct labor $ 774,900 Direct labor efficiency variance $ 18,000 The standard direct labor rate per hour (SP) for February was: Multiple Choice $12.00. $12.30. $12.60. $13.20. $13.50.
Europa Company manufactures only one product. Presented below is direct labor information for November. Standard direct labor hours per unit of product 4.50 Number of finished units produced 5,000 Standard wage rate per direct labor hour (SP) $ 20.50 Total direct labor payroll for the period $ 410,010 Actual wage rate per direct labor hour worked (AP) $ 17.30 The direct labor efficiency variance for November (to the nearest dollar) was: Multiple Choice $23,700 unfavorable. $100,440 favorable. $51,240 favorable. $75,840 favorable. $24,600 unfavorable.
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Chhom Corporation makes a product whose direct labor standards are 0.4 hours per unit and $19.00 per hour. In November the company produced 1,800 units using 760 direct labor-hours. The actual direct labor cost was $13,300. The labor efficiency variance for November is: Multiple Choice $760 F $700 F $760 U $700 U
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Pittman Framing's cost formula for its supplies cost is $1,120 per month plus $12 per frame. For the month of November, the company planned for activity of 610 frames, but the actual level of activity was 602 frames. The actual supplies cost for the month was $8,600. The spending variance for supplies cost in November would be closest to: Multiple Choice O $160 U $256 F $256 U $160 F
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