Grant Industries makes light construction equipment. The standard for a particular device calls for 24 direct labor hours. During a recent period 850 devices were made, The standard wage rate is $17.00 per hour. The labor rate variance was $4,114 favorable and the labor efficiency variance was $2,890 unfavorable. 9 What is Grant's actual direct labor wage rate (select the closest number)? A 15.85 B 16.88 16.80 17.00 24*17- 408 None of the above

FINANCIAL ACCOUNTING
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Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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5800198
Grant Industries makes light construction equipment. The standard for a particular device calls for 24 direct labor
hours. During a recent period 850 devices were made. The standard wage rate is $17.00 per hour. The labor rate
variance was $4,114 favorable and the labor efficiency variance was $2,890 unfavorable.
9 What is Grant's actual direct labor wage rate (select the closest number)?
#SP
A
15.85
SP
16.88
16.80
17.00
24*17- 408
E
None of the above
Filmore Toy Company makes wooden Toys. The following materials standards have been established for their mos
popular train set:
Standard quantity per unit of output
1.7 board feet
Standard Price of Material
$
19.80 board foot
The following data pertain to operations concerning the product for the last month:
Actual materials purchased
Actual cost of materials purchased
Actual materials used in production
Actual output
5,800 board feet
$ 113,680
5,100 board feet
3,200 units
10 What was the purchase price variance for the month?
А.
6,732 Unfavorable
Vニ(AQ*AP)- (AQ a SP
В.
$
6,732 Favorable
C.
$
1,160 Unfavorable
D.
$
1,160 Favorable
E. None of the above
580019.6
|14,84
Transcribed Image Text:5800198 Grant Industries makes light construction equipment. The standard for a particular device calls for 24 direct labor hours. During a recent period 850 devices were made. The standard wage rate is $17.00 per hour. The labor rate variance was $4,114 favorable and the labor efficiency variance was $2,890 unfavorable. 9 What is Grant's actual direct labor wage rate (select the closest number)? #SP A 15.85 SP 16.88 16.80 17.00 24*17- 408 E None of the above Filmore Toy Company makes wooden Toys. The following materials standards have been established for their mos popular train set: Standard quantity per unit of output 1.7 board feet Standard Price of Material $ 19.80 board foot The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 5,800 board feet $ 113,680 5,100 board feet 3,200 units 10 What was the purchase price variance for the month? А. 6,732 Unfavorable Vニ(AQ*AP)- (AQ a SP В. $ 6,732 Favorable C. $ 1,160 Unfavorable D. $ 1,160 Favorable E. None of the above 580019.6 |14,84
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