Instructions I helpCh. 16 HW Fund. of Varlance AnalysisQuestion 4 (of 4)Save & ExitSubmitvalue:10.00 pointsExercise 16-34 Variable Cost Variances (LO 16-5)The standard direct labor cost per unit for a company was $27 (= $18 per hour x 1.5 hours per unit). During the period, actual direct labor costs amounted to $178,700, 9,800 labor-hours were worked,and 5,800 units were produced.Required:Compute the direct labor price and efficiency variances for the period. (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do notselect either option.)Price varianceEfficiency variance6.51 AM10/13/2020O Type here to search4.

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Answered: Instructions I help Ch. 16 HW Fund. of…

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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D13 X✓ fx per hour A 1 Problem 3: Overhead Costs Variances 2 B لا Alignment Ty Number D LZ 3 Jailene Inc allocates overhead costs using the direct labor hour as the allocation base. It has provided the following manufacturing overhead data: 4 5 Data 6 Number of production units 7 Direct labor hour (DLH)* per unit 8 Total direct labor hours 9 VMOH 10 FMOH 11 Total MOH 12 Standard VMOH rate per hour 13 Standard FMOH rate per hour 14 MOH rate per hour 15 16 Actual Budgeted or Standard 53,000 50000 units 0.55 29,150 $145,000 0.72 DLH per unit 36,000 DLH $144,000 $65,000 210,000 $72,000 216,000 $4.00 per hour $2.00 per hour $6.00 per hour Formulae: Styles E Cells E F H I Editing Sensitivity Add-ins L M N 0 17 Required: 18 A. Calculate Variable MOH flexible budget cost variance. 19 B. Calculate Fixed MOH volume variance. 20 C. Calculate the total MOH variance. 21 22 Solution: 23 A. Variable MOH flexible budget cost variance = Actual Variable MOH costs - Budgeted Variable MOH costs 24 Actual…
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Problem #3 Given the following information, explain the salary variance. Costs in the de- partment are considered 50 percent variable. Salaries Paid Hours Volume Actual $228,800 20,800 19,000 Budget $237,120 19,760 20,000
Question Content Area Power Co.'s labor information for June is as follows: Direct labor hours worked 68,100 Standard labor hours for units manufactured 71,000 Unfavorable direct labor rate variance $17,025 Total payroll for labor $820,605 A. What was the actual labor rate per hour? Round your answer to two decimal places. Actual labor rate $fill in the blank 1 per hour B. What was the standard labor rate per hour? Round your answer to two decimal places. Standard labor rate $fill in the blank 2 per hour C. What was the total standard labor cost for units produced in June? Total standard labor cost $fill in the blank 3 D. What was the direct labor time variance for June? Direct labor rate variance $fill in the blank 4
Peking Palace reported the following: Standard hours per unit 1.5 hrs. Standard rate per hour $18.00 Actual hours used 13,660 Actual rate per hour $17.50 Number of units produced 5,000 Determine the direct labor time variance. a.$107,800 unfavorable b.$107,800 favorable c.$110,880 unfavorable d.$110,880 favorable
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QUESTION 53 Cost AccountingChoose the answer from the choices
Topic: Variance Analysis
--/1 Question 22 View Policies Current Attempt in Progress The predetermined overhead rate for Coronado Industries is $5, comprised of a variable overhead rate of $3 and a fixed rate of $2. The amount of budgeted overhead costs at normal capacity of $150000 was divided by normal capacity of 30000 direct labor hours, to arrive at the predetermined overhead rate of $5. Actual overhead for June was $12680 variable and $8040 fixed, and standard hours allowed for the product produced in June was 4000 port hours. The total overhead variance is O $720 F. O $4040 F. O $4040 U. O $720 U. hp ins f12 f11 f10 prt sc f9 144 f8 f7 f6 f5 4+ 8 %3D C 60 To 96
Problem 3-E. Indirect Cost Variances XULA Products Co. charges factory overhead into production at the rate of PT0 per direct labor hour, based on a standard, production of 15,000 direct labor hours for 15,000 units; 60% of factory overhead costs are variable. Production data for May and June are: June 14,200 hrs. May 12,000 hrs. 12,000 P140,100 Production... 15,000 Units produced.. Actual factory overhead. P149,300 Required: Prepare a factory overhead variance analysis for May and June, using the two-variance method. (Indicate whether each variance is favorable or unfavorable.)

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