Question 1 --/1 View Policies Current Attempt in Progress t In producing product ZZ, 14,800 direct labor hours were used at a rate of $8.20 per hour. The standard was 15,000 hours at $8.00 per hour. Based on this data, the direct labor O price variance is $3,000 unfavorable. O quantity variance is $1,600 unfavorable. O price variance is $2,960 favorable. O quantity variance is $1,600 favorable. hp

Question 1 --/1 View Policies Current Attempt in Progress t In producing product ZZ, 14,800 direct labor hours were used at a rate of $8.20 per hour. The standard was 15,000 hours at $8.00 per hour. Based on this data, the direct labor O price variance is $3,000 unfavorable. O quantity variance is $1,600 unfavorable. O price variance is $2,960 favorable. O quantity variance is $1,600 favorable. hp

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 1BE: Direct materials variances Bellingham Company produces a product that requires 2.5 standard pounds...

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Direct materials variances Bellingham Company produces a product that requires 2.5 standard pounds per unit. The standard price is 3.75 per pound. If 15,000 units used 36,000 pounds, which were purchased at 4.00 per pound, what is the direct materials (A) price variance, (B) quantity variance, and (C) cost variance?
Direct labor variances Bellingham Company produces a product that requires 4 standard direct labor hours per unit at a standard hourly rate of 20 per hour. If 15,000 units used 61,800 hours at an hourly rate of 1985 per hour, what is the direct labor (A) rate variance, (B) time variance, and (C) cost variance?
Variances Refer to Cornerstone Exercise 9.6. Required: 1. Calculate the variable overhead spending variance using the formula approach. (If you compute the actual variable overhead rate, carry your computations out to five significant digits and round the variance to the nearest dollar.) 2. Calculate the variable overhead efficiency variance using the formula approach. 3. Calculate the variable overhead spending variance and variable overhead efficiency variance using the three-pronged graphical approach. 4. What if 26,100 direct labor hours were actually worked in February? What impact would that have had on the variable overhead spending variance? On the variable overhead efficiency variance? Standish Company manufactures consumer products and provided the following information for the month of February: Required: 1. Calculate the fixed overhead spending variance using the formula approach. 2. Calculate the volume variance using the formula approach. 3. Calculate the fixed overhead spending variance and volume variance using the three-pronged graphical approach. 4. What if 129,600 units had actually been produced in February? What impact would that have had on the fixed overhead spending variance? On the volume variance?
Question Content Area The following data relate to direct labor costs for the current period: Line Item Description Value Standard costs 7,000 hours at $11.80 Actual costs 6,300 hours at $10.80 The direct labor rate variance is a. $14,560 unfavorable b. $6,300 favorable c. $14,560 favorable d. $8,260 favorable
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-/-1 Question 12 View Policies Current Attempt in Progress hours at $15 per hour. If in producing 2900 units, the actual direct labor cost was $58125 for 3750 direct labor hours The per-unit standards for direct labor are 1.5 direct labor worked, the total direct labor variance is O $3375 unfavorable. O $7125 favorable. O $2900 unfavorable. O $7125 unfavorable. Chp f9 f8 f5 f6 17
D Question 14 Use the following data to find the direct labor efficiency variance. Direct labor standard (4.0 hrs.@ $7/hr.) Actual hours worked per unit Actual units produced Actual rate per hour O $3,413 unfavorable O $15,600 unfavorable O $15,600 favorable O $13,650 favorable O $3,412 favorable Question 15 $28per finished unit 3.5 hrs 3,900 units $7.25 A unit of a business that not only incurs costs but also generates revenues is called F6 F7
Topic: Variance Analysis
Topic: Variance Analysis
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The following data relate to direct labor costs for the current period: Line Item Description Value Standard costs 7,000 hours at $11.90 Actual costs 6,300 hours at $10.70 The direct labor time variance is a. $8,330 unfavorable b. $7,490 favorable c. $7,490 unfavorable d. $8,330 favorable