service station performs oil changes for cars each oil change has a standard time of .25 direct labor hours. the standard direct hour rate is $15.00 per hour. data relating to oil changes for june: actual number of oil changes performed 1800 actual direct labor hours worked 540 actual direct labor rate $14.25 what us the labor rate variance for june

service station performs oil changes for cars each oil change has a standard time of .25 direct labor hours. the standard direct hour rate is $15.00 per hour. data relating to oil changes for june: actual number of oil changes performed 1800 actual direct labor hours worked 540 actual direct labor rate $14.25 what us the labor rate variance for june

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Description: service station performs oil changes for cars eachoil change has a standard time of .25 direct laborhours. the standard direct hour rate is $15.00 perhour. data relating to oil changes for june:actual number of oil changes performed 1800actual direc

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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eBook Question Content Area Ellis Company’s labor information for September is as follows: Direct labor hourly rate paid $31.00 Total standard direct labor hours for units produced 10,000.00 Direct labor hours worked 9,850.00 Direct labor rate variance $6,895.00 (favorable) Round your answers to two decimal places. A. Compute the standard direct labor rate per hour. $fill in the blank 1 standard rate B. Compute the direct labor time variance. Direct labor time variance $fill in the blank 2 C. Compute the standard direct labor rate if the direct labor rate variance was $2,462.50 (unfavorable). $fill in the blank 4 standard labor rate
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Direct Materials and Direct Labor Variance Analysis Abbeville Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 40 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hr. $10.80 Standard labor time per faucet 10 min. Standard number of lb. of brass 1.30 lb. Standard price per lb. of brass $9.75 Actual price per lb. of brass $10.00 Actual lb. of brass used during the week 11,600 lb. Number of faucets produced during the week 8,700 Actual wage per hr. $11.10 Actual hrs. per week 1,280 hrs. Required: a. Determine the standard cost per faucet for direct materials and direct labor. Round the cost per unit to two decimal places. b. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus…
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