Calcul xOrdereBookgoogleXDirect Labor VariancesRe-Cycle Company manufacturesQuantity of direct labor usedActual rate for direct laborBicycles completed in JulyStandard direct labor per bicycleStandard rate for direct laborCheck My Works Dallas Xw.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=false#Show Me HowDirect labor rate varianceDirect labor time varianceTotal direct labor cost varianceb. How much direct labor should be debited to Work in Process?8 ScoreOOllX M myboxcommuter bicycles from recycled materials. The following data for July of the current year are available:670 hrs.$12.20 per hr.310 bicycles2 hrs.$12.40 per hr%Print Item<Cenga xCenga xCengaa. Determine 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 asa positive number.✪&CathoX+•3VQ < ☆ChromeOS update for Android... • 25mUpdate required today* ODLONov 14 6:36 0

Name: Calcul xOrdereBookgoogleXDirect Labor VariancesRe-Cycle Company manuf
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Description: Calcul xOrdereBookgoogleXDirect Labor VariancesRe-Cycle Company manufacturesQuantity of direct labor usedActual rate for direct laborBicycles completed in JulyStandard direct labor per bicycleStandard rate for direct laborCheck My Works Dallas Xw.co

Variances are the differences between the standard costs and the actual costs. If the standard costs are more, then the variance will be favorable or vice-versa.Formulas:Part aDirect labor rate variance $ (134)FavorableDirect labor time variance $ 620UnfavorableTotal direct labor cost variance $ 486UnfavorablePart bAmount to be debited to work in process $ 7,688

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< Re-Cycle Company manufactures commuter bicycles from recycled materials. The following data for July of the current year are available: Quantity of direct labor used 670 hrs. Actual rate for direct labor Bicycles completed in July Standard direct labor per bicycle Standard rate for direct labor $12.20 per hr. 310 bicycles 2 hrs. $12.40 per hr. a. Determine 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?

< Re-Cycle Company manufactures commuter bicycles from recycled materials. The following data for July of the current year are available: Quantity of direct labor used 670 hrs. Actual rate for direct labor Bicycles completed in July Standard direct labor per bicycle Standard rate for direct labor $12.20 per hr. 310 bicycles 2 hrs. $12.40 per hr. a. Determine 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?

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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