General Accounting Question please answer GreenstoneEquipment Co. manufactures industrialmachinery. The standard for a particular machine requires18 direct labor-hours at $20 per direct labor-hour. During arecent period, 1,200 machines were produced. The laborrate variance was zero, and the labor efficiency variancewas $4,800 unfavourable. How many actual direct labor-hours were worked?a. 22,000b. 24,250c. 23,400d. 21,840

Step 1: Definition of Labor Efficiency VarianceLabor Efficiency Variance measures the difference…

Answered: Greenstone Equipment Co. manufactures…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 11EB: Fitzgerald Company manufactures sewing machines, and they produced 2,500 this past month. The...

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Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?
Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured 115,000 units. The standard cost sheet indicates that the standard direct labor cost per unit is $1.50. The performance report for the period includes an unfavorable direct labor rate variance of $3,700 and a favorable direct labor time variance of $10,275. What was the total actual cost of direct labor incurred during the period?
Queen Industries uses a standard costing system in the manufacturing of its single product. It requires 2 hours of labor to produce 1 unit of final product. In February, Queen Industries produced 12,000 units. The standard cost for labor allowed for the output was $90,000, and there was an unfavorable direct labor time variance of $5,520. A. What was the standard cost per hour? B. How many actual hours were worked? C. If the workers were paid $3.90 per hour, what was the direct labor rate variance?
Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid $32 per hour for labor, for a total of $718,848. The standard hours per unit are 6.4, and the standard labor wage rate is $38.40 per hour. A. What are the actual hours worked? B. What are the standard hours for the units made? C. What is the direct labor rate variance for April? D. What Is the direct labor time variance for April? E. What is the total direct labor variance for April?
At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Lopez computes its overhead rates using practical volume, which is 80,000 units. The actual results for the year are as follows: (a) Units produced: 79,600; (b) Direct labor: 158,900 hours at 18.10; (c) FOH: 831,000; and (d) VOH: 112,400. Required: 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances.
Krizum industries makes...accounting question
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?
What is tools N time's total labor variance on this general accounting question?
Assembly line workers at Wildhorse Manufacturing worked a total of 10400 direct labor hours to produce 40400 units. The standard for producing one unit is 15 minutes at a wage rate of $11.60. If the actual wage rate was $11.1 per direct labor hour, Wildhorse's direct labor efficiency variance is O $2000 favorable. O $3480 unfavorable. O $5050 unfavorable. O $3330 favorable.
The actual direct labor wage rate is $8.50 and 4,500 direct labor-hours were actuallyworked during the month. The standard direct labor wage rate is $8.00 and the standard quantity of hours allowed for the actual level of output was 5,000 direct laborhours. What is the direct labor efficiency variance?a. $4,000 favorableb. $4,000 unfavorablec. $4,500 unfavorabled. $4,500 favorable
Assume the following: • The variable portion of the predetermined overhead rate is $1.50 per direct labor-hour. • The standard labor-hours allowed per unit of finished goods is 3 hours. • The variable overhead efficiency variance is $1,500 F. • The company produced 15,000 units of finished goods during the period. What is the actual quantity of direct labor-hours worked during the period? Multiple Choice о о O O 44,000 hours 44,500 hours 43,500 hours 43,000 hours
Ernest Company makes and sells a single product. Last period the company's labor rate variance was $14,400 F. During the period, the company worked 36,000 actual direct labor-hours (DLH) at an actual cost of $338,400. The standard labor rate for the product in dollars per direct labor hour (DLH) is: Select one: a. $8.50/DLH b. $8.25/DLH c. $9.80/DLH d. $9.40/DLH e. $9.00/DLH

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