QS 21-11 (Algo) Direct labor rate and efficiency variances LO P3 A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH Actual Hours SH Standard Hours AR-Actual Rate SR=Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost $ 0 $ 0 74,000 $15 $13 75,300 0 $ 0 Standard Cost

QS 21-11 (Algo) Direct labor rate and efficiency variances LO P3 A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH Actual Hours SH Standard Hours AR-Actual Rate SR=Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost $ 0 $ 0 74,000 $15 $13 75,300 0 $ 0 Standard Cost

Name: QS 21-11 (Algo) Direct labor rate and efficiency variances LO P3A com
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Description: QS 21-11 (Algo) Direct labor rate and efficiency variances LO P3A company reports the following information for its direct labor.Actual hours of direct labor usedActual rate of direct labor per hourStandard rate of direct labor per hourStandard hour

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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Question Content Area Myers Corporation has the following data related to direct materials costs for November: actual cost for 4, 690 pounds of material at $5.30 and standard cost for 4, 410 pounds of material at $6.30 per pound. The direct materials price variance is a. $1,764 favorable b. $4,690 favorable c. $1,764 unfavorable d. $4,690 unfavorable
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Direct Labor Actual Data: Units produced Direct Labor Standard Cost Data per 1 Unit Quantity Price 2 hrs $41/hr SHOW ALL COMPUTATIONS. 20 units 39 hrs; total cost $1560 Compute rate variance, efficiency variance, direct labor variance
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D13 X✓ fx per hour A 1 Problem 3: Overhead Costs Variances 2 B لا Alignment Ty Number D LZ 3 Jailene Inc allocates overhead costs using the direct labor hour as the allocation base. It has provided the following manufacturing overhead data: 4 5 Data 6 Number of production units 7 Direct labor hour (DLH)* per unit 8 Total direct labor hours 9 VMOH 10 FMOH 11 Total MOH 12 Standard VMOH rate per hour 13 Standard FMOH rate per hour 14 MOH rate per hour 15 16 Actual Budgeted or Standard 53,000 50000 units 0.55 29,150 $145,000 0.72 DLH per unit 36,000 DLH $144,000 $65,000 210,000 $72,000 216,000 $4.00 per hour $2.00 per hour $6.00 per hour Formulae: Styles E Cells E F H I Editing Sensitivity Add-ins L M N 0 17 Required: 18 A. Calculate Variable MOH flexible budget cost variance. 19 B. Calculate Fixed MOH volume variance. 20 C. Calculate the total MOH variance. 21 22 Solution: 23 A. Variable MOH flexible budget cost variance = Actual Variable MOH costs - Budgeted Variable MOH costs 24 Actual…
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