provide answer General accounting question Summit Manufacturing produces industrial robots. Thestandard for their base model requires 12 direct labor-hours at $18 per direct labor-hour. During March, theyproduced 800 robots. The labor rate variance was zero,and the labor efficiency variance was $3,600 unfavorable.Calculate the actual direct labor-hours worked.

Step 1: Define Labor Efficiency VarianceThe labor efficiency variance measures the difference…

Answered: Summit Manufacturing produces…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 8EB: Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450...

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Fitzgerald Company manufactures sewing machines, and they produced 2,500 this past month. The standard variable manufacturing overhead (M0H) rate used by the company is $6.75 per machine hour. Each sewing machine requires 13.5 machine hours. Actual machine hours used last month were 33,500, and the actual variable MOH rate last month was $7.00. Calculate the variable overhead rate variance and the variable overhead efficiency variance.
Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid $32 per hour for labor, for a total of $718,848. The standard hours per unit are 6.4, and the standard labor wage rate is $38.40 per hour. A. What are the actual hours worked? B. What are the standard hours for the units made? C. What is the direct labor rate variance for April? D. What Is the direct labor time variance for April? E. What is the total direct labor variance for April?
Queen Industries uses a standard costing system in the manufacturing of its single product. It requires 2 hours of labor to produce 1 unit of final product. In February, Queen Industries produced 12,000 units. The standard cost for labor allowed for the output was $90,000, and there was an unfavorable direct labor time variance of $5,520. A. What was the standard cost per hour? B. How many actual hours were worked? C. If the workers were paid $3.90 per hour, what was the direct labor rate variance?
Ed Co. manufactures two types of O rings, large and small. Both rings use the same material but require different amounts. Standard materials for both are shown. At the beginning of the month, Edve Co. bought 25,000 feet of rubber for $6.875. The company made 3,000 large O rings and 4,000 small O rings. The company used 14,500 feet of rubber. A. What are the direct materials price variance, the direct materials quantity variance, and the total direct materials cost variance? B. If they bought 10,000 connectors costing $310, what would the direct materials price variance be for the connectors? C. If there was an unfavorable direct materials price variance of $125, how much did they pay per toot for the rubber?
At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Lopez computes its overhead rates using practical volume, which is 80,000 units. The actual results for the year are as follows: (a) Units produced: 79,600; (b) Direct labor: 158,900 hours at 18.10; (c) FOH: 831,000; and (d) VOH: 112,400. Required: 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances.
Verde Company produces wheels for bicycles. During the year, 660,000 wheels were produced. The actual labor used was 368,000 hours at $9.20 per hour. Verde has the following labor standards: 1) $10.20 per hour; 2) 0.5 hour per wheel. REQUIRED 1. Compute the labor rate variance. 2. Compute the labor efficiency variance.
Shepard Industries produced 4,000 tables last month. The standard variable manufacturing overhead (MOH) rate used by the company is $24 per machine hour. Each table requires 0.3 machine hours. The actual machine hours used last month were 1,170, and the actual variable MOH rate last month was $22. a. Calculate the variable overhead rate variance. machine hours. b. Calculate the variable overhead efficiency variance.
Krizun Industries makes heavy construction equipment. The standard for a particular crane calls for 24 direct labor-hours at $16 per direct labor-hour. During a recent period 1,500 cranes were made. The labor efficiency variance was $5,600 Unfavorable. How many actual direct labor-hours were worked?
Crish Industries makes heavy construction equipment. The standard for a particular crane calls for 24 direct labor-hours at $17 per direct labor-hour. During a recent period 2,250 cranes were made. The labor rate variance was zero and the labor efficiency variance was $7,300 unfavorable. How many actual direct labor-hours were worked? I want Solution
Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows: Standard Hours Standard Rate per Hour Standard Cost 30 minutes $ 6.20 $ 3.10 During August, 10,370 hours of direct labor time were needed to make 19,600 units of the Jogging Mate. The direct labor cost totaled $63,257 for the month. What is the labor rate variance and the labor efficiency variance? The budgeted variable manufacturing overhead rate is $4.50 per direct labor-hour. During August, the company incurred $55,998 in variable manufacturing overhead cost. Compute the variable overhead rate and efficiency variances for the month.
Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a standard hourly rate of $20.00 per hour. 15, 800 units used 63,000 hours at an hourly rate of $19.65 per hour. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet What is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Round your answers to the nearest dollar. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance $fill in the blank 2 b. Direct labor time variance $fill in the blank 4 c. Direct labor cost variance $fill in the blank 6
Reddit Co. manufactures heavy construction equipment. The standard for a particular excavator calls for 25 direct labor hours at $20 per direct labor hour. During a recent period, 500 excavators were made. The labor rate variance was zero, and the labor efficiency variance was $10,000 unfavorable. How many actual direct labor hours were worked?

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