Hello tutor please solve this accounting questions Given:Actual labor costs$200Flexible budget allowed for actual units used $180Based on budgeted unitsLabor rate variance is$189

Step 1: Define BudgetA budget is a report prepared by businesses to show the estimated figures for…

Answered: Given: Actual labor costs $200 Flexible…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Calculate the labor efficiency variance: Labor costs: Budgeted costs (per unit) 2.25 hours at € 16.40 per hour based on 350 units. Actual: Units: 310 Hours: 620 Labor cost: € 10, 540 a. €1, 435 favourable b. € 1,271 favourable c. € 899 favourable d. €1, 435 adverse
Direct Labor Actual Data: Units produced Direct Labor Standard Cost Data per 1 Unit Quantity Price 2 hrs $41/hr SHOW ALL COMPUTATIONS. 20 units 39 hrs; total cost $1560 Compute rate variance, efficiency variance, direct labor variance
The following data relate to direct labor costs for the current period: Line Item Description Value Standard costs 7,000 hours at $11.90 Actual costs 6,300 hours at $10.70 The direct labor time variance is a. $8,330 unfavorable b. $7,490 favorable c. $7,490 unfavorable d. $8,330 favorable
Direct Material Direct Labor Standard Cost Data per 1 Unit Quantity Price 3 lbs $2.00/lb 2 hrs $4.00/hr Actual Data: Units produced Material purchase & usage Direct Labor Show all computations. 25 100 lbs at $2.20 per lb 30 hrs; total cost $129 a) Compute price variance, quantity variance, direct material variance b) Compute rate variance, efficiency variance, direct labor variance
Round your answer nearest $
The following data relate to direct labor costs for the current period: 7,200 hours at $11.20 6,300 hours at $10.50 Standard costs Actual costs The direct labor time variance is Oa. $10,080 unfavorable b. $9,450 favorable Oc. $9,450 unfavorable Od. $10,080 favorable
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The following data relate to direct labor costs for the current period: 7,100 hours at $11.80 6,200 hours at $10.80 Standard costs Actual costs The direct labor time variance is a. $10,620 unfavorable b. $9,720 favorable Oc. $9,720 unfavorable d. $10,620 favorable
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Dirickson Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Standard Quantity or Hours per Unit of Output Inputs Standard Price or Rate Direct materials $ 9.40 per ounce $ 18.00 per hour $ 5.30 per hour 7.6 ounces Direct labor 0.10 hours Variable manufacturing overhead 0.10 hours The company has reported the following actual results for the product for July: Actual output 7,600 units Raw materials purchased 63,000 ounces Actual cost of raw materials purchased $ 541,800 Raw materials used in production 57,750 ounces Actual direct labor-hours 820 hours $ 16,072 $ 4,592 Actual direct labor cost Actual variable overhead cost The labor efficiency variance for the month is closest to:
The following data relate to direct labor costs for the current period: Standard 7,400 hours at $11.40 costs Actual costs 6,100 hours at $10.80 The direct labor rate variance is a. $18,480 unfavorable b. $3,660 favorable c. $18,480 favorable X d. $14,820 favorable
The following data relate to direct labor costs for the current period: Standard costs 7,300 hours at $11.80 Actual costs 6,400 hours at $10.00 The direct labor time variance is Oa. $10,620 unfavorable Ob. $9,000 favorable C. $9,000 unfavorable Od. $10,620 favorable

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Given: Actual labor costs $200 Flexible budget allowed for actual units used $180 Based on budgeted units Labor rate variance is $189