Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October of the current year are available: Quantity of direct labor used 800 hrs. Actual rate for direct labor $11.50 per hr. Bicycles completed in October 380 bicycles Standard direct labor per bicycle 2 hrs. Standard rate for direct labor $11.70 per hr. a. Determine for October the direct labor rate variance, direct labor time variance, and 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. Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance b. How much direct labor should be debited to Work in Process?

Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October of the current year are available: Quantity of direct labor used 800 hrs. Actual rate for direct labor $11.50 per hr. Bicycles completed in October 380 bicycles Standard direct labor per bicycle 2 hrs. Standard rate for direct labor $11.70 per hr. a. Determine for October the direct labor rate variance, direct labor time variance, and 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. Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance b. How much direct labor should be debited to Work in Process?

Name: Direct Labor VariancesGlacier Bicycle Company manufactures commuter b
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Description: Direct Labor VariancesGlacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October of the current year are available:Quantity of direct labor used800 hrsActual rate for direct labor$11.50 per hr.Bicy

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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Direct Labor Variances Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October of the current year are available: Quantity of direct labor used 590 hrs. Actual rate for direct labor $12.50 per hr. Bicycles completed in October 280 bicycles Standard direct labor per bicycle 2 hrs. Standard rate for direct labor $12.80 per hr. a. Determine for October the direct labor rate variance, direct labor time variance, and 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. Direct Labor Rate Variance Direct Labor Time Variance Total Direct Labor Cost Variance b. How much direct labor should be debited to Work in Process?fill in the blank
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