Homework Help is Here – Start Your Trial Now!
Business
Accounting
TB MC Qu. 21-107 (Algo) A company uses the following... A company uses the following standard costs to produce a single unit of output. Direcț materials Direct labor 6 pounds at $0.70 per pound= 0.6 hour at $10.00 per hour = 0.6 hour at $4.10 per hour Manufacturing overhead During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $55,480 based on 5,840 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $20,600 and fixed manufacturing overhead incurred was $18,000. Based on this information, the direct labor efficiency variance for the month was: Multiple Choice $4,520 favorable $2.920 favorable $ 4.20 $ 6.00 $ 2.46 $1.600 unfavorable

TB MC Qu. 21-107 (Algo) A company uses the following... A company uses the following standard costs to produce a single unit of output. Direcț materials Direct labor 6 pounds at $0.70 per pound= 0.6 hour at $10.00 per hour = 0.6 hour at $4.10 per hour Manufacturing overhead During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $55,480 based on 5,840 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $20,600 and fixed manufacturing overhead incurred was $18,000. Based on this information, the direct labor efficiency variance for the month was: Multiple Choice $4,520 favorable $2.920 favorable $ 4.20 $ 6.00 $ 2.46 $1.600 unfavorable

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Topic Video
Question

Please do not give solution in image format thanku 

TB MC Qu. 21-107 (Algo) A company uses the following... A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor 6 pounds at $0.70 per pound = 0.6 hour at $10.00 per hour = 0.6 hour at $4.10 per hour Manufacturing overhead During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $55,480 based on 5,840 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $20,600 and fixed manufacturing overhead incurred was $18,000. Based on this information, the direct labor efficiency variance for the month was: Multiple Choice $4,520 favorable $2.920 favorable $ 4.20 $ 6.00 $ 2.46 $1.600 unfavorable
Transcribed Image Text:TB MC Qu. 21-107 (Algo) A company uses the following... A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor 6 pounds at $0.70 per pound = 0.6 hour at $10.00 per hour = 0.6 hour at $4.10 per hour Manufacturing overhead During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $55,480 based on 5,840 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $20,600 and fixed manufacturing overhead incurred was $18,000. Based on this information, the direct labor efficiency variance for the month was: Multiple Choice $4,520 favorable $2.920 favorable $ 4.20 $ 6.00 $ 2.46 $1.600 unfavorable
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Performance measurements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS