Q5. The details regarding Labour force engaged in a work scheduled to be completed in30 hours are as follows-StandardCategory oferkersStandard wage rate/hr. Actual(in Rs.)Actual Wage rate/hr.(in Rs.)NumberNumberSkilled75607070Semi-Skilled45403050Un Skilled60308020Total180180The work is actually completed in 32 hours. Calculate Labour Variances. Show your workingclearly.

Direct Labor:- Direct labor refers to expenses incurred in respect of the labor involved in the…

Q5. The details regarding Labour force engaged in a work scheduled to be completed in 30 hours are as follows- Category of Werkers Actual Wage rate/hr (in Rs.) Standard Standard wage rate/hr. Actual (in Rs.) Number Number Skilled 75 60 70 70 Semi-Skilled 45 40 30 50 Un Skilled 60 30 80 20 Total 180 180 The work is actually completed in 32 hours. Calculate Labour Variances. Show your working clearly.

Q5. The details regarding Labour force engaged in a work scheduled to be completed in 30 hours are as follows- Category of Werkers Actual Wage rate/hr (in Rs.) Standard Standard wage rate/hr. Actual (in Rs.) Number Number Skilled 75 60 70 70 Semi-Skilled 45 40 30 50 Un Skilled 60 30 80 20 Total 180 180 The work is actually completed in 32 hours. Calculate Labour Variances. Show your working clearly.

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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The standard rate of pay is 12 per direct labor hour. If the actual direct labor payroll was $51744 for 4400 direct labor hours worked, the e direct labor price (rate) variance is a. $1200 unfavorable b. $1200 favorable c. $1056 favorable d. $1056 untavorable
AGL Inc. provided the following data related to the direct labor costs for the current period: Data Related to Direct Labor Costs Data Rate Hours Standard $17.50 12,000 Actual $15.50 14,000 Determine the direct labor cost variance. Group of answer choices -$7,000 favorable -$28,000 favorable $7,000 unfavorable $28,000 unfavorable
The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost. Actual output What is the labor efficiency variance for the month? Multiple Choice O $26,008 F $26,008 U $22,360 F 7,400 hours $23,048 F $ 96,200 9.6 hours $13.40 per ho 950 units
The details regarding composition and the weekly wage rate of labour force engaged on a job scheduled to be completed in 30 weeks is as follows, Number of workers- Stadard skilled 75, standard semi skilled 45, actual skilled 70, acutal semi skilled 30, Weekly wage rate in Rs Standard skilled 60, standard semi skilled 40, actual skilled 70, actual semi skilled 50, the work is actually completed in 32 weeks, What is labour rate variance for semiskilled? O a. 300(A) O b. 9,000(A) O c. 9,600(A) O d. 9,000(F)
Assume (1) estimated direct labor hours used to calculate the predetermined overhead rate = 19,950, (2) the manufacturing overhead applied to production = $105,000, and (3) the total direct labor hours actually worked during the period = 21,000.What is the estimated total manufacturing overhead cost for the period?
Given the following information for The Pelican Inn, what is the direct labor time variance? Actual housekeeping staff hours worked 760 Standard staff hours for rooms cleaned 800 Standard staff pay rate per hour $12.50 Actual staff pay rate per hour $13.00 a.$(500) favorable b.$400 unfavorable c.$500 unfavorable d.$(20) favorable
The following labor standards have been established for a particular product: Standard labor hours per unit of output Standard labor rate The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 5,700 hours $ 98,610 4.9 hours $17.20 per hour 1,100 units Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month? Note: 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.
Cavy Company estimates that total factory overhead costs will be $1,011,028 for the year. Direct labor hours are estimated to be 100,700. a. Determine the predetermined factory overhead rate. Round your answer to the nearest cent.$fill in the blank 8b99eb02a009f9f_1 b. Determine the amount of factory overhead applied to Job 567 if the amount of direct labor hours is 1,200 and Job 999 if the amount of direct labor hours is 2,800. Job 567 $fill in the blank 8b99eb02a009f9f_2 Job 999 $fill in the blank 8b99eb02a009f9f_3 c. Prepare the journal entry to apply factory overhead for April according to the predetermined overhead rate. fill in the blank aa9138f9703b038_2 fill in the blank aa9138f9703b038_4
Please do not proviede answer in image formate thank you. Information regarding Maxwell’s direct labor cost for the month of January follows: Direct labor hourly rate paid $ 29.70 Total standard direct labor hours for units produced this period 12,200 Direct labor hours actually worked 12,000 Direct labor rate variance $ 17,200 favorable Required: 1. Compute the standard direct labor wage rate per hour in January. (Round your answer to 2 decimal places.) 2. Compute the direct labor efficiency variance for January. Was this variance favorable or unfavorable? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.)
The following data are available for February: Actual direct labor-hours worked ... 6500 hours Standard direct labor rate ...... $8 per hour Labor rate variance .. $2600 favorable The actual direct labor rate for February is:
Benson Corporation estimated its overhead costs would be $22,500 per month except for January when it pays the $153,120 annual insurance premium on the manufacturing facility. Accordingly, the January overhead costs were expected to be $175,620 ($153,120 + $22,500). The company expected to use 7,900 direct labor hours per month except during July, August, and September when the company expected 9,100 hours of direct labor each month to build inventories for high demand that normally occurs during the Christmas season. The company's actual direct labor hours were the same as the estimated hours. The company made 3,950 units of product in each month except July, August, and September, in which it produced 4,550 units each month. Direct labor costs were $24.70 per unit, and direct materials costs were $10.00 per unit. Required a. Calculate a predetermined overhead rate based on direct labor hours. b. Determine the total allocated overhead cost for January, March, and August. c. Determine…
TB MC Qu. 14-67 (Static) The actual direct labor rate per hour (AP) for February: Lucky Company Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) Standard direct labor hours allowed (SQ) Total payroll for direct labor Direct labor efficiency variance The actual direct labor rate per hour (AP) for February was: Multiple Choice. O O O O $12.60. $13.20. $12.30. $12.00. $13.50. 61,500 63,000 $ 774,900 $ 18,000