Handerson Corporation makes a product with the following standard costs:Standard Quantity orHoursStandard Price or Rate$ 6.00 per kilo$ 20.00 per hour$ 6.00 per hourDirect materials8.5 kilosDirect labor0.4 hoursVariable overhead0.4 hoursThe company reported the following results concerning this product in August.Actual output3,200 unitsRaw materials used in production29,030 kilosPurchases of raw materials31,600 kilosActual direct labor-hours1,160 hours$ 195,920$ 22,736$ 7,540Actual cost of raw materials purchasesActual direct labor costActual variable overhead costThe company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The labor rate variance for August is: Multiple Choice$512 U$464 F$464 U$512 F

Name: Handerson Corporation makes a product with the following standard cos
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Description: Handerson Corporation makes a product with the following standard costs:Standard Quantity orHoursStandard Price or Rate$ 6.00 per kilo$ 20.00 per hour$ 6.00 per hourDirect materials8.5 kilosDirect labor0.4 hoursVariable overhead0.4 hoursThe company

the for labor rate variance = ( Standard rate - actual rate ) * Actual labor hours Given that,…

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Handerson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate $ 6.00 per kilo $ 20.00 per hour $ 6.00 per hour Direct materials 8.5 kilos Direct labor 0.4 hours Variable overhead 0.4 hours The company reported the following results concerning this product in August. Actual output 3,200 units 29,030 kilos Raw materials used in production Purchases of raw materials 31,600 kilos Actual direct labor-hours 1,160 hours $ 195,920 $ 22,736 $ 7,540 Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased The labor rate variance for August is:

Handerson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate $ 6.00 per kilo $ 20.00 per hour $ 6.00 per hour Direct materials 8.5 kilos Direct labor 0.4 hours Variable overhead 0.4 hours The company reported the following results concerning this product in August. Actual output 3,200 units 29,030 kilos Raw materials used in production Purchases of raw materials 31,600 kilos Actual direct labor-hours 1,160 hours $ 195,920 $ 22,736 $ 7,540 Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased The labor rate variance for August is:

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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