Please need answer Shimano Company makes a product that is expected torequire 6 hours of labor per unit of product. The standardcost of labor is $5.30. Shimano actually used 5.90 hours oflabor per unit of product. The actual cost of labor was $5.20per hour. Shimano made 1,600 units of product during theperiod. Based on this information alone, the labor pricevariance is:a. $848 favorable.b. $848 unfavorable.c. $944 unfavorable.d. $944 favorable.

Labor Price Variance = (Actual Rate - Standard Rate) * Actual HoursGiven information:Standard Rate:…

Answered: Shimano Company makes a product that is…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 1PB: Bobcat uses a traditional cost system and estimates next years overhead will be $800.000, as driven...

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Similar questions

Colonels uses a traditional cost system and estimates next years overhead will be $480,000, with the estimated cost driver of 240,000 direct labor hours. It manufactures three products and estimates these costs: If the labor rate is $25 per hour, what is the per-unit cost of each product?
Rose Company has a relevant range of production between 10,000 and 25.000 units. The following cost data represents average cost per unit for 15,000 units of production. Using the cost data from Rose Company, answer the following questions: If 10,000 units are produced, what is the variable cost per unit? If 18,000 units are produced, what is the variable cost per unit? If 21,000 units are produced, what are the total variable costs? If 11,000 units are produced, what are the total variable costs? If 19,000 units are produced, what are the total manufacturing overhead costs incurred? If 23,000 units are produced, what are the total manufacturing overhead costs incurred? If 19,000 units are produced, what are the per unit manufacturing overhead costs incurred? If 25,000 units are produced, what are the per unit manufacturing overhead costs incurred?
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What is the full cost per unit?
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Pluto Company sold 4,480 units in October at a price of $63 per unit. The variable cost is $51 per unit. Calculate the total contribution margin. Question
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