Q11 Europa Company manufactures only one product. Presented below is direct labor information for November. Standard direct labor hours per unit of product4.80Number of finished units produced4,700Standard wage rate per direct labor hour (SP)$ 20.80Total direct labor payroll for the period$ 422,400Actual wage rate per direct labor hour worked (AP)$ 17.60 The direct labor flexible-budget variance for November was: Multiple Choice $29,952 unfavorable. $46,848 favorable. $24,000 unfavorable. $76,800 favorable. $106,752 favorable.

In this question, we have to calculate the direct labor flexible budget variance.

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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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Q11

Europa Company manufactures only one product. Presented below is direct labor information for November.

Standard direct labor hours per unit of product	4.80
Number of finished units produced	4,700
Standard wage rate per direct labor hour (SP)	$ 20.80
Total direct labor payroll for the period	$ 422,400
Actual wage rate per direct labor hour worked (AP)	$ 17.60

The direct labor flexible-budget variance for November was:

Multiple Choice

$29,952 unfavorable.
$46,848 favorable.
$24,000 unfavorable.
$76,800 favorable.
$106,752 favorable.

Definition Definition Measure used to estimate the difference between the budgeted and annual proportion for a specific accounting year. A favorable budget variance refers to positive variances or gains, while unfavorable or negative variances refer to a shortfall in the budget. A budget variance is indicative of the instances where the actual costs incurred are higher or lower than the estimated costs.

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