$7,180 unfavorable.$8,400 favorable.$8,400 unfavorable.$11,950 favorable.$7,180 favorable. MC Qu. 84 Use the following data to find...Use the following data to find the totai direct labor cost variance if the company produced 3,500 units during the period.Direct labor standard (4.00 hrs. @ $7.00/hr.)Actual hours worked$ 28.00 per unit11,950$4Actual rate per hour7.60

Name: $7,180 unfavorable.$8,400 favorable.$8,400 unfavorable.$11,950 favora
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Description: $7,180 unfavorable.$8,400 favorable.$8,400 unfavorable.$11,950 favorable.$7,180 favorable. MC Qu. 84 Use the following data to find...Use the following data to find the totai direct labor cost variance if the company produced 3,500 units during the

Direct Labor Cost Variance Formula:

Business

Accounting

MC Qu. 84 Use the following data to find... Use the following data to find the total direct labor cost variance if the company produced 3,500 units during the period. Direct labor standard (4.e0 hrs. @ $7.00/hr.) Actual hours worked Actual rate per hour $ 28.00 per unit 11,950 7.60 %24

MC Qu. 84 Use the following data to find... Use the following data to find the total direct labor cost variance if the company produced 3,500 units during the period. Direct labor standard (4.e0 hrs. @ $7.00/hr.) Actual hours worked Actual rate per hour $ 28.00 per unit 11,950 7.60 %24

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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3
Board Company's direct labor information for February is as follows: Direct labor hours worked (AQ) 35,800 Standard direct labor hours for units manufactured (SQ) 38,000 Unfavorable direct labor rate variance 17,900 Total payroll for direct labor $ 411,700 The standard direct labor rate per hour (SP) for February was: Multiple Choice $11.00. $10.83. $11.31. $12.00. $11.50.
Using this information from Planters, Inc., what is the cost per unit under variable costing? Round to the nearest penny, two decimal places. Planters, Inc data Cost Amount Production 10,452 units Direct materials $239 Direct labor 257 Variable manufacturing overhead 108 Fixed manufacturing overhead 1,092,801
A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its varlable manufacturing overhead standards on direct labor-hours Standard hours per unit of output Standard variable overhead rate 5.10 DLHS $11.20 per DLH The following data pertain to operations for the last month: 8,600 DLHS $95,980 1,600 units Actual direct labor-hours Actual total variable manufacturing overhead cost Actual output What is the varlable overhead rate variance for the month?
Required information Skip to question [The following information applies to the questions displayed below.] Eagle Company uses a standard cost system that has provided the following data: Units of output manufactured: 85 Direct labor: Standard hours allowed: 2 hours per unit of product Standard wage rate: $17.00 per hour Actual direct labor: 190 hours, total cost of $3,610 The direct labor efficiency variance for the period was: Multiple Choice $380 favorable. $380 unfavorable. $340 favorable. $340 unfavorable.
9q-3
L Company's direct labor information for the month of February is as follows: Actual direct labor hours 16.000 Standard direct labor hours) 16.400 direct labor rate variance-unfavorable $4.000 Total Payroll $152.000 What was L standard direct labor rate?
Danica Corporation's standard cost system contains the following overhead costs, computed based on a monthly normal volume of 25,000 units or 50,000 direct labor hours: Variable factory overhead Fixed factory overhead Total P12 per unit 8 per unit P20 The following information pertains to the month of April 200A: Actual FOH costs incurred: Variable P316,680 225,000 26,000 units 54,600 hours Fixed Actual production Actual direct labor hours worked 31. The total FOH cost variance is: a. P25,000 U b. P17,000 U c. P21,680 U d. 4,680 U 32. The variable overhead variance amounts to: a. P25,000 U b. P16,680 U c. 283,320 F d. 4,680 U 33. The variable overhead spending variance is: b. P4,680 U a. P166,680 U c. P10,920 F d. P12,000 U 34. The variable overhead efficiency variance is: b. P10,920 F c. P4,680 U a. P15,600 U d. P12,000 U 35. The fixed overhead variance amounts to: b. P17,000 U c. P8,000 U d. P6,000 U a. P25,000 U 36. The fixed overhead budget or spending variance amounts to: b.…
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Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 5.900 units, but its actual level of activity was 5,940 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May Data used in budgeting Revenue Direct labor Direct materials Manufacturing overhead Selling and administrative expenses Total expenses Actual results for May Fixed element Variable element per month Multiple Choice 6 $2,434 U 0 0 Revenue Direct labor Direct materials Manufacturing overhead $ 73,824 43,922 Selling and administrative expenses 31,896 33,400 28,300 61,700 $200,564 $22,786 The spending variance for direct materials in May would be closest to per unit 6 $ 32.60 3.90 12.10 1.80 0.40 6 18.20 Help Save & E
The manufacturing costs of Kellam Industries for the first three months of the year follow: Total Costs Units Produced January $318,060 2,015 units February 357,640 3,850 March 494,760 5,115 Using the high-low method, determine (a) the variable cost per unit and (b) the total fixed cost. a. Variable cost per unit $fill in the blank 1 b. Total fixed cost $fill in the blank 2
ACTUAL Direct Materials Direct Labor Summary Mat. Req. No. Description Amount Time Ticket No. Description Amount Item Amount Direct Materials 132 360 meters at $32 H9 18 hours at $19 Direct Labor 134 50 meters at $32 H12 18 hours at $19 Factory Overhead Total Total Total Cost Feedback V Check My Work 1 & 2. Include the estimated and actual direct materials and direct labor. Include the estimated and applied factory overhead. What is the best explanation for the variances between actual costs and estimated costs. For this purpose, assume that the additional meters of material used in the job were spoiled, the factory overhead rate has proven to be satisfactory, and an inexperienced employee performed the work. a. The direct materials cost exceeded the estimate by $40 because 2 meters of materials were spoiled. b. Management didn't provide enough direction to complete tasks on budget. c. The direct materials cost exceeded the estimate by $320 because 10 meters of materials were spoiled.…