Required ARequired BDirect labor mix and yield variances. (Do not round intermediate calcul."F" for favorable, or "U" for unfavorable. If there is no effect, do not selnearest whole number.)Direct labor mix varianceYield variance The standard direct labor rates in effect for the current fiscal year and the standard hours allowed for the actual output of work for Julyare shown in the following schedule.WorkerclassificationStandardDirect LaborRate per Hour$60Standard DirectLabor-Hours Allowedfor Output1,3801,8402,300II55III45The wage rates for each labor class increased under the terms of a new contract. The standard wage rates were not revised to reflectthe new contract.The actual direct labor-hours worked and the actual direct labor rates per hour experienced for the month of July were as follows.Actual DirectLabor RateWorkerClassificationActual Directper Hour$64Labor-Hours1,470II581,9502,380III46Required:Calculate the dollar amount of the total direct labor variance for July for Matthews & Bros. and break down the total variance into thefollowing components:a. Direct labor price and efficiency variances.b. Direct labor mix and yield variances.

Name: Required ARequired BDirect labor mix and yield variances. (Do not rou
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Description: Required ARequired BDirect labor mix and yield variances. (Do not round intermediate calcul."F" for favorable, or "U" for unfavorable. If there is no effect, do not selnearest whole number.)Direct labor mix varianceYield variance The standard direct

Variance: The difference between the actual cost or price and the budgeted (standard) cost or price…

Business

Accounting

Required: Calculate the dollar amount of the total direct labor variance for July for Matthews & Bros. and break down the total variance into the following components: a. Direct labor price and efficiency variances. b. Direct labor mix and yield variances.

Required: Calculate the dollar amount of the total direct labor variance for July for Matthews & Bros. and break down the total variance into the following components: a. Direct labor price and efficiency variances. b. Direct labor mix and yield variances.

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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