Frame It Up Inc manufactures picture frames. During the recent month, the company manufactured 1,510 picture frames using 479 direct labor hours. The company paid the direct labor workers a total of $10,000 for the month. Standards per picture frame for Frame It Up required 0.45 direct labor hours at a cost of $19.69 per hour. What is the direct labor efficiency variance? Enter a favorable variance as a positive number. Enter an unfavorable variance as a

Frame It Up Inc manufactures picture frames. During the recent month, the company manufactured 1,510 picture frames using 479 direct labor hours. The company paid the direct labor workers a total of $10,000 for the month. Standards per picture frame for Frame It Up required 0.45 direct labor hours at a cost of $19.69 per hour. What is the direct labor efficiency variance? Enter a favorable variance as a positive number. Enter an unfavorable variance as a

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

Japan Company produces lamps that require 3 standard hours per unit at an hourly rate of $11.60 per hour. Production of 6,700 units required 19,700 hours at an hourly rate of $11.30 per hour. Enter favorable variances as negative numbers. (a) Determine the direct labor rate variance. (b) Determine the direct labor time variance. (c) Determine the cost variance. %24
Please fill in these charts
Venneman Company produces a product that requires 2 standard hours per unit at a standard hourly rate of $15.00 per hour. If 4,300 units required 8,900 hours at an hourly rate of $14.70 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance $fill in the blank 1 b. Direct labor time variance $fill in the blank 3 c. Total direct labor cost variance $fill in the blank 5
I want to correct answer for this question
Starts Inc. produces a product that require 3.50 standard hours per unit at a standard hourly rate of $17.00 per hour. Production of 7,500 units required 27,550 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? (d) Perform the journal entries related to the variances.
Beverly Company has determined a standard variable overhead rate of $4.00 per direct labor hour and expects to incur 0.50 labor hour per unit produced. Last month, Beverly incurred 1,700 actual direct labor hours in the production of 3,500 units. The company has also determined that its actual variable overhead rate is $2.40 per direct labor hour. Calculate the variable overhead rate and efficiency variances as well as the total amount of over- or underapplied variable overhead. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Variable Overhead Rate Variance $2,720 F Variable Overhead Efficiency Variance $200 F Over or under applied Variable Overhead??- how do I figure this out??
Ruby Company produces a chair for which the standard specifies 5 yards of material per unit. The standard price of one yard of material is $7.60. During the month, 8,500 cha manufactured, using 40,000 yards at a cost of $7.50. Determine the following: Enter favorable variances as negative numbers. a. Direct materials price variance b. Direct materials quantity variance c. Total direct materials cost variance Favorable Unfavorable Previous Next
Alvarado Company produces a product that requires 2 standard direct labor hours per unit at a standard hourly rate of $18.00 per hour. If 5,300 units used 10,900 hours at an hourly rate of $17.28 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Line Item Description Amount Variance a. Direct labor rate variance $fill in the blank 1 b. Direct labor time variance $fill in the blank 3 c. Direct labor cost variance $fill in the blank 5
Do not give image format
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 $
Please redo this problem and show me steps on how to get the following questions correct, its stating I am wrong. Please help Direct Labor Variances The following data relate to labor cost for production of 6,600 cellular telephones: Actual: 4,480 hrs. at $16.10 $72,128 Standard: 4,410 hrs. at $16.40 $72,324 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter all values as a positive number and then identify the variance (e.g. Favorable or Unfavorable) in the adjacent column. Rate variance $ Favorable Time variance $ Unfavorable Total direct labor cost variance $ Favorable b. The employees may have been less-experienced or poorly trained, thereby resulting in a lower labor rate than planned. The lower level of experience or training may have resulted in less efficient performance. Thus, the actual time required was more than standard. LIz C
Thorne Company has the following information available for the past year. They use machine hours to allocate overhead. NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). For the variance conditions, your answer is either "F” (for Favorable) or "U” (for Unfavorable) - capital letter and no quotes. What is the variable overhead efficiency variance? Is it favorable or unfavorable?