Flapjack Corporation had 7,664 actual direct labor hours at an actual rate of$12.20 per hour. Original production had been budgeted for 1,100 units, butonly 958 units were actually produced. Labor standards were 7.3 hours percompleted unit at a standard rate of $12.75 per hour.Round your answer to the nearest cent.The direct labor time variance isa. $4,215.20 unfavorableb. $4,215.20 favorableC. $8,550.15 unfavorabled. $8,550.15 favorable

Definition: Direct labor variances: The difference between the actual labor cost in the…

Answered: Flapjack Corporation had 7,664 actual…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Rangoon Inc. used 12,000 direct labor hours in its production process at an actual rate of $16.50 per hour and produced 15,000 units of product. The planned production for the period was 17,000 units. The standard for direct labor hours was 0.7 hours per unit of production and the standard rate was $18.00 per hour. Compute the direct labor cost variance. Group of answer choices -$18,000 favorable $9,000 unfavorable -$27,000 favorable $27,000 unfavorable
Use this information for Flapjack Corporation to answer the question that follow. Flapjack Corporation had 7,784 actual direct labor hours at an actual rate of $12.34 per hour. Original production had been budgeted for 1,100 units, but only 973 units were actually produced. Labor standards were 7.3 hours per completed unit at a standard rate of $13.00 per hour. Round your answer to the nearest cent. The direct labor time variance is $5,121.87 unfavorable $5,121.87 favorable $8,854.30 unfavorable $8,854.30 favorable
Flapjack Corporation had 7,760 actual direct labor hours at an actual rate of $12.04 per hour. Original production had been budgeted for 1,100 units, but only 970 units were actually produced. Labor standards were 7.2 hours per completed unit at a standard rate of $13.00 per hour. Round your answer to the nearest cent. The direct labor time variance is Oa. $7,457.36 unfavorable Ob. $7,457.36 favorable Oc. $10,088.00 unfavorable Od. $10,088.00 favorable
Feagin Company’s actual variable overhead was $73,000. Actual direct labor hours were 25,000 to make 20,000 finished products. The per-unit standard for direct labor hour is 1.5 hours, and the pre-determined variable overhead rate is $3 per direct labor hour. What were (1) the variable overhead spending variance (2) the variable overhead efficiency variance?
The Flapjack Corporation had 7,728 actual direct labor hours at an actual rate of $12.30 per hour. Original production had been budgeted for 1,100 units, but only 960 units were actually produced. Labor standards were 7.6 hours per completed unit at a standard rate of $13.02 per hour. The labor rate variance is $5,564.16 unfavorable $5,564.16 favorable $5,849.63 unfavorable $5,849.63 favorable
Japan Company produces lamps that require 2 standard hours per unit at a standard hourly rate of $15.50 per hour. Production of 6,300 units required 12,350 hours at an hourly rate of $16.00 per hour. What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? Enter favorable variances as negative numbers. a. Direct labor rate variance $ $ b. Direct labor time variance c. Total direct labor cost variance $
A company has determined that the standard for materials is 10 square feet at $4 per square foot. If a process produces 2000 units and uses 18 square feet per unit at $5 per square foot, then what is the materials quantity variance? Select one a $ 64,000 unfavorable b) $64, 000 favorable c) $18,000 unfavorable d) $ 18,000 favorable
How do I solve this ?
Flapjack Corporation had 7,704 actual direct labor hours at an actual rate of $12.30 per hour. Original production had been budgeted for 1,100 units, but only 957 units were actually produced. Labor standards were 7.8 hours per completed unit at a standard rate of $13.05 per hour. The direct labor rate variance is Oa. $5,778.00 unfavorable b. $5,778.00 favorable c. $3,523.81 unfavorable Od. $3,523.81 favorable
4.-Bellingham Company produced 2,300 units of product that required 3.5 standard direct labor hours per unit. The standard fixed overhead cost per unit is $2.65 per direct labor hour at 7,650 hours, which is 100% of normal capacity. Determine the fixed factory overhead volume variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
The Flapjack Corporation had 7,704 actual direct labor hours at an actual rate of $12.40 per hour. Original production had been budgeted for 1,100 units, but only 957 units were actually produced. Labor standards were 7.5 hours per completed unit at a standard rate of $12.78 per hour. The labor rate variance is $2,927.52 unfavorable $2,927.52 favorable $7,022.20 unfavorable $7,022.20 favorable
Delmar Incorporated uses a standard cost system. Labor standards are 2.00 hours per widget at $13.40 per hour. During August, Delmar Incorporated paid its workers $227,070 for 16,820 hours. Delmar Incorporated produced 8,610 widgets during August Required: a. Calculate the direct labor rate variance. Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). b. Calculate the direct labor efficiency variance. Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). c. Calculate the direct labor spending variance. Note: Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance). a. Rate Variance b.Efficiency Variance c. Spending Variance

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

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,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

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

SEE MORE TEXTBOOKS