Flapjack Corporation had 7,817 actual direct labor hours at an actual rate of $12.20 per hour. Original production had been budgeted for 1,100 units, but only 971 units were actually produced. Labor standards were 7.8 hours per completed unit at a standard rate of $13.19 per hour. The direct labor rate variance is Oa. $7,738.83 unele Ob. $7,738.83 feble Oc. $1,284 65 le Od. $1.244.65 fle

Flapjack Corporation had 7,817 actual direct labor hours at an actual rate of $12.20 per hour. Original production had been budgeted for 1,100 units, but only 971 units were actually produced. Labor standards were 7.8 hours per completed unit at a standard rate of $13.19 per hour. The direct labor rate variance is Oa. $7,738.83 unele Ob. $7,738.83 feble Oc. $1,284 65 le Od. $1.244.65 fle

Name: Flapjack Corporation had 7,817 actual direct labor hours at an actual
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Flapjack Corporation had 7,817 actual direct labor hours at an actual rate of $12.20 per hour. Original production had been budgeted for 1,100 units, but only 971 units were actuallyproduced. Labor standards were 7.8 hours per completed unit at a st

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

The standard number of hours that should have been worked for the output attained is 6000 direct labor hours and the actual number of direct labor hours worked was 6300. If the direct labor price variance was $3150 unfavorable and the standard rate of pay was $8.0 per direct labor hour, what was the actual rate of pay for direct labor? $7.50 per direct labor hour $6.50 per direct labor hour $8.50 per direct labor hour O $8.00 per direct labor hour
please answer do not image.
Japan Company produces lamps that require 3 standard hours per unit at a standard hourly rate of $20.10 per hour. Production of 4,600 units required 13,390 hours at an hourly rate of $20.50 per hour. What is the direct labor (a) rate variance, (b) time variance, and (c) total cost varianc
Factory overhead variance is over absorbed P9,000. The factory overhead rate of P10 per labor hour was arrived at by using an estimated capacity of 20,000 labor hours. The fixed overhead rate is P3 per labor hour. With utilized capacity equal to 18,900 labor hours, how much factory overhead must have been incurred?
Bonnie Company applies overhead based on machine hours. The variable overhead standard is 24 hours at $19.00 per hour. During March, Bonnie spent $314,150 for variable overhead, and 13,280 machine hours were used to produce 60 units. What is the variable overhead rate variance? Note: Do not round intermediate calculation. Multiple Choice O $15.600 unfavorable $61,830 unfavorable $12.800 unfavorable $61.830 favorable
The Russell Company provides the following standard cost data per unit of product: Direct material (2 gallons @ $3 per gallon) $ 6.00 Direct labor (2 hours @ $12 per hour) $ 24.00 During the period, the company produced and sold 32,000 units incurring the following costs: Direct material 61,000 gallons @ $ 2.90 per gallon Direct labor 59,500 hours @ $ 12.05 per hour The direct material usage variance was:
Bonnie Company applies overhead based on machine hours. The variable overhead standard is 22 hours at $16.50 per hour. During March, Bonnie spent $264,150 for variable overhead, and 13,230 machine hours were used to produce 190 units. What is the variable overhead rate variance? Note: Do not round intermediate calculation. Multiple Choice $14,600 unfavorable $45,855 unfavorable $12,300 unfavorable $45,855 favorable
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, but only 958 units were actually produced. Labor standards were 7.3 hours per completed unit at a standard rate of $12.75 per hour. Round your answer to the nearest cent. The direct labor time variance is a. $4,215.20 unfavorable b. $4,215.20 favorable C. $8,550.15 unfavorable d. $8,550.15 favorable
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
Sheffield Company's standard labor cost per unit of output is $22.00 (2.00 hours x $11 per hour). During August, the company incurs 2,340 hours of direct labor at an hourly cost of $9.90 per hour in making 1,300 units of finished product. Compute the total, price, and quantity labor variances. (Round answers to 2 decimal places, e.g. 52.75.) Total labor variance Labor price variance $ $ Labor quantity variance $
Company A produced 2,200 units of output during a production process that normally requires 2 hours of labor per unit of output. The standard labor rate is $16 per hour, but the company paid $15 per hour. Actual hours needed to complete the production process were 4,600. How much was the labor rate variance? A. $4,400 favorable. B. $4,400 unfavorable. C. $4,600 favorable. D. $4,600 unfavorable.
ABC Inc. spent a total of $49,760 on factory overhead. Of this, $28,000 was fixed overhead. ABC Inc. had budgeted $27,000 for fixed overhead. Actual machine hours were 5,200. Standard hours for units made were 5,000. The standard variable overhead rate was $4.30. What is the variable overhead rate variance? Enter the amount as positive number. Variable overhead rate variance $fill in the blank 1