Strawberry Mansion Company reported the following: Standard hours per unit 2.5 hours Standard rate per hour $16.00 Actual hours used 12,560 Actual rate per hour $15.50 Number of units produced 4,900 Determine the direct labor rate variance. a.$6,280 favorable b.$6,125 favorable c.$6,125 unfavorable d.$6,280 unfavorable

Q: Use the following data for questions #5-7 Japan Company produces furniture and has the following…

A: Direct labour time variance means difference in standard cost of labour and actual cost of labour…

Q: MC Qu. 84 Use the following data to find... Use the following data to find the total direct labor…

A: Direct Labor Cost Variance Formula:

Q: 00, Direct labor usage (efficiency) variance—unfavorable P4,200. What were the actual hours worked,…

A: Actual hours worked refers to all hours worked by the employee and excludes any paid or unpaid leave…

Q: A company reports the following information for its direct labor. Actual hourn of direct labor used…

A: When actual hours/price is higher than standard then it is unfavorable and vice versa is favorable.

Q: Use the following data to find the direct labor rate variance if the company produced 3,500 units…

A: Lets understand the basics.Direct labor rate variance is a variance between the rate at which labor…

Q: The following data relate to direct labor information for product C for the month of October is as…

A: Variance analysis is an analysis used to recognize the difference between actual behavior and…

Q: The following information relates to the direct labor at Padmaja Manufacturing, Inc. for March:…

A: Actual hours = 2300 units x 1.50 Actual hours = 3450 hours   Standard hours = 2300 units x 1.40…

Q: e following data relate to direct labor costs for the current period of Executive Inc.: Standard…

A: Answer : Direct labor time variance = (Actual hour* Standard rate) - (Standard hour* Standard rate)…

Q: The following labor standards have been established for a particular product Standard labor-hours…

A: Solution:- Introduction:- The following formula used to calculate Labor efficiency variance =…

Q: Mandy Company has the following information from last month:     Standard direct labor hours for…

A: Direct labour cost is cost of labour which is directly engaged in production or manufacturing.…

Q: The following data relate to direct labor costs for the current period: Standard costs 7,400 hours…

A: Direct Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked

Q: d costs costs ct labor time variance is 7,100 6,200

A: Answer : Direct labor time variance = (Actual hour* Standard rate) - (Standard hour* Standard rate)…

Q: Information on Wilbur Company's direct labor costs is as follows: P3.75 Standard direct labor rate…

A: The direct labor efficiency variance indicates that the actual hours are more than the budgeted…

Q: The following labor standards have been established for a particular product: Standard labor-hours…

A: Variance is the result of the difference between the expected value and actual results. It can be…

Q: The following data relate to direct labor costs for the current period: Standard costs 7,300 hours…

A: Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked

Q: Following data relate to the fixed factory overhead of Cendant Corporation: Actual fixed factory…

A: Lets understand the basics.Fixed favtory overhead volume variance is a variance between the budgeted…

Q: The following labor standards have been established for a particular product: Standard labor-hours…

A: Formula: Labor rate variance = (  actual rate -Standard rate  ) x actual hours. Actual rate = Total…

Q: Standard labor hours per unit of 4.6 hours output Standard labor rate $20.40 per hours The following…

A: The direct labor cost refers to the cost incurred by a factory for the production of goods. The…

Q: Data on Gantry Company's direct labor costs are given below: Standard direct labor-hours Actual…

A: the standard direct labor rate is a predetermined hourly rate used for planning and control purposes…

Q: The following labor standards have been established for a particular product: Standard labor-hours…

A: Please find the answer to the above question below:

Q: Standard labor-hours per unit of output 8.1 hours. Standard labor rate S 14.40 per hour. The…

A: Formula  Labor rate variance  =    Actual hrs × ( Standard rate - Actual rate ) Actual hrsrate =…

Q: The following labour standards have been established for a particular product: Standard labour hours…

A: Variance analysis: It is a study of the costs associated with real and anticipated figures. It is a…

Q: The following labor standards have been established for a particular product: Standard labor hours…

A: Labor Variance: When there is difference between the standard labor cost of product and actual labor…

Q: Polaco Corporation makes a product that has the following direct labor standards: hours per 0.4 unit…

A: To calculate: Labor rate variance   Standard DLH rate = $24.00 per hour Actual DLH rate = $22.10 per…

Q: The following labor standards have been established for a particular product: Standard labor- 8.4…

A: Labor variance A labor variance occurs when the actual cost of direct labor employed differs from…

Q: What is the labor efficiency variance for the month? Select one: a. $9,240 F b. $9,240 U C. 55,955 U…

A: Solution: Introduction: Under the standard Costing method, standard cost is a predetermined cost and…

Q: The following labor standards have been established for a particular product:     Standard…

A: Variance refers to a change between the expected value and the actual result. This term is usually…

Q: Question Content Area The standard costs and actual costs for factory overhead for the manufacture…

A: The fixed overhead volume variance refers to the difference between the amount of money that was…

Q: The following data relate to direct labor costs for the current period: 7,200 hours at $11.00 6,400…

A: Direct labor time variance measures the difference between the actual time spent on labor and the…

Q: Peking Palace Company reported the following: Standard hours per unit 2.5 hours Standard…

A: Direct labor Time VarianceDirect labor Efficiency variance is the measure of difference between the…

Q: The following labor standards have been established for a particular product: Standard labor - hours…

A: The objective of the question is to calculate the labor rate variance for the month. Labor rate…

Q: A company reports the following information for its direct labor. Actual hours of direct labor used.…

A: Variances are the difference between the actual costs and the standard costs. If the actual costs…

Q: The following data relate to direct labor costs for the current period: Standard 7,400 hours at…

A: The variance analysis is a part of costing, it is used to analyze the difference between actual and…

Q: Peking Palace reported the following: Standard hours per unit 1.5 hrs. Standard rate per hour…

A: The question is based on the concept of Cost Accounting. Direct labor time variance is calculated by…

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance. 

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.