Flapjack Corporation had 7,744 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 962 units were actually produced. Labor standards were 7.7 hours per completed unit at a standard rate of $12.82 per hour. The direct labor rate variance is a. $6,350.08 unfavorable b. $6,350.08 favorable Oc. $4,438.54 unfavorable Od. $4,438.54 favorable

Flapjack Corporation had 7,744 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 962 units were actually produced. Labor standards were 7.7 hours per completed unit at a standard rate of $12.82 per hour. The direct labor rate variance is a. $6,350.08 unfavorable b. $6,350.08 favorable Oc. $4,438.54 unfavorable Od. $4,438.54 favorable

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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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.

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Flapjack Corporation had 7,744 actual direct labor hours at an actual rate of $12.00 per hour.
Original production had been budgeted for 1,100 units, but only 962 units were actually produced.
Labor standards were 7.7 hours per completed unit at a standard rate of $12.82 per hour.
The direct Ilabor rate variance is
a. $6,350.08 unfavorable
Ob. $6,350.08 favorable
Oc. $4,438.54 unfavorable
Od. $4,438.54 favorable

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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
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