Peak industry standard wage rate solve this accounting questions Peak Industries' standard wage rate is $14.50 per direct labor-hour(DLH), and according to standards, each unit of output requires 3.8DLHs. In June, 3,200 units were produced, the actual wage rate was$14.25 per DLH, and the actual hours were 13,440 DLHs. What wouldthe Labor Efficiency Variance for June be recorded as?

Step 1: Definition of Labor Efficiency VarianceLabor Efficiency Variance: This variance measures the…

Answered: Peak Industries' standard wage rate is…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 7PB: Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid...

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Power Co.s labor information for June is as follows: A. What was the actual labor rate per hour? B. What was the standard labor rate per hour? C. What was the total standard labor cost for units produced in June? D. What was the direct labor time variance for June?
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If a factory operates at 100% of capacity one month, 90% of capacity the next month, and 105% of capacity the next month, will a different cost per unit be charged to the work-in-process account each month for factory overhead assuming that a predetermined annual overhead rate is used?
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Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate per hour? B. What is the standard direct labor rate per hour? C. What was the total standard direct labor cost for May? D. What was the direct labor rate variance for May?
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The following labor standards have been established for a particular product: Standard labor hours per unit of output 2.8 hours Standard labor rate per hour $ 11.50 The following data pertain to operations concerning the product for the last month: Actual time worked: 6,900 hours Actual total labor cost: $ 80,385 Actual output: 2,300 units What is the labor rate variance for the month? What is the labor efficiency variance for the month?
he following labor standards have been established for a particular product: Standard labor hours per unit of output 4.7 hours Standard labor rate $ 20.50 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 7,300 hours Actual total labor cost $ 150,380 Actual output 1,500 units Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month? (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)
What is the labor rate variance for the month?

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