Flapjack Corporation had 7,712 actual direct labor hours at an actual rate of $12.30 pe completed unit at a standard rate of $12.95 per hour.
Flapjack Corporation had 7,712 actual direct labor hours at an actual rate of $12.30 pe completed unit at a standard rate of $12.95 per hour.
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
Help answer both of these questions please

Transcribed Image Text:3 Final Exam
m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false
Flapjack Corporation had 7,712 actual direct labor hours at an actual rate of $12.30 per hour. Original production had been budgeted for 1,100 units, but only 958 units were actually produced. Labor standards were 7.5 hours per
completed unit at a standard rate of $12.95 per hour.
The direct labor rate variance is
Oa. $5,012.80 unfavorable
Ob. $5,012.80 favorable
Oc. $6,700.59 unfavorable
Od. $6,700.59 favorable
Previous
Email Instructor
Next
Submit Test for Grading

Transcribed Image Text:om/ilrn/takeAssignment/takeAssign
The standard costs and actual costs for direct materials for the manufacture of 2,910 actual units of product are as follows:
Standard Costs
Direct materials
Direct materials
2,910 kilograms at $8.50
Actual Costs
3,000 kilograms at $8.40
The direct materials quantity variance is
Oa. $765 favorable
Ob. $612 favorable
Oc. $612 unfavorable
Od. $765 unfavorable
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 2 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