136. Labor yield variance must beA. P58.75 U B. P481.25 U C. P540 UD. P2,418 U MIX Manufacturing has this standard direct labor rates and standard hours allowed for output for the current quarterTotalStandardrate/hrCostsLaborersClass 1Class 2Class 3TotalP12.0010.507.50LaborersClass 1Class 2Class 3TotalP14.4012.60Standard hrsallowed for outputThe wage rates for each labor class increased by 20% under the terms of a new union contract. The standard wage rates were notrevised. Actual direct labor costs incurred for the current quarter are as follows:Actual rate/hr Actual labor hours Total Costs9.003004005001,200P3,6004,2003,750P11,5503503805201,250P5,0404,7884,680P14,508

Labor Yield Variance is variance due to actual hours of labor and standard hours of labor. It is…

MIX Manufacturing Laborers Class 1 Class 2 Class 3 Total has this standard direct labor rates and standard hours allowed for output for the current quarter Standard rate/hr Class 1 Class 2 Class 3 Total P12.00 10.50 7.50 P14.40 12.60 Standard hrs allowed for output 9.00 300 400 500 1,200 The wage rates for each labor class increased by 20% under the terms of a new union contract. The standard wage rates were not revised. Actual direct labor costs incurred for the current quarter are as follows: Laborers Actual rate/hr Actual labor hours Total Costs Total Costs 350 380 520 1,250 P3,600 4,200 3,750 P11,550 ĐE,DAO 4,788 4,680 P14,508

MIX Manufacturing Laborers Class 1 Class 2 Class 3 Total has this standard direct labor rates and standard hours allowed for output for the current quarter Standard rate/hr Class 1 Class 2 Class 3 Total P12.00 10.50 7.50 P14.40 12.60 Standard hrs allowed for output 9.00 300 400 500 1,200 The wage rates for each labor class increased by 20% under the terms of a new union contract. The standard wage rates were not revised. Actual direct labor costs incurred for the current quarter are as follows: Laborers Actual rate/hr Actual labor hours Total Costs Total Costs 350 380 520 1,250 P3,600 4,200 3,750 P11,550 ĐE,DAO 4,788 4,680 P14,508

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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