9q-12 Tharaldson Corporation makes a product with the following standard costs:Standard Quantity Standard Price or Standard Costor HoursRatePer UnitDirect materials6.7$ 3.00 per20.10ouncesounce$ 11.00 per hour$ 6.00 per hourDirect labor0.4 hours4.40Variable overhead0.4 hours2.40The company reported the following results concerning this product in June.Originally budgeted outputActual outputRaw materials used in production2,100 units2,600 units19,500 ouncesPurchases of raw materials20,000 ouncesActual direct labor-hours520 hoursActual cost of raw materials purchasesActual direct labor costActual variable overhead cost$ 41,000$ 12,100$ 3,050The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchasedThe labor efficiency variance for June is: The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchasedThe labor efficiency variance for June is:Multiple Choice$3,520 F$5,720 U$3,520 U$5,720 F

Labor efficiency variance is the difference between AH*SR and SH*SR AH = 520 hrs SR = $ 11…

Tharaldson Corporation makes a product with the following standard costs: Standard Quantity Standard Price or Standard Cost or Hours Rate Per Unit Direct materials 6.7 $ 3.00 per 24 20.10 ounces ounce Direct labor Variable overhead $ 11.00 per hour $ 6.00 per hour 0.4 hours 4.40 0.4 hours 2.40 The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 2,100 units 2,600 units 19,500 ounces 20,000 ounces 520 hours $ 41,000 $ 12,100 $ 3,050 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased The labor efficiency variance for June is:

Tharaldson Corporation makes a product with the following standard costs: Standard Quantity Standard Price or Standard Cost or Hours Rate Per Unit Direct materials 6.7 $ 3.00 per 24 20.10 ounces ounce Direct labor Variable overhead $ 11.00 per hour $ 6.00 per hour 0.4 hours 4.40 0.4 hours 2.40 The company reported the following results concerning this product in June. Originally budgeted output Actual output Raw materials used in production Purchases of raw materials Actual direct labor-hours Actual cost of raw materials purchases Actual direct labor cost Actual variable overhead cost 2,100 units 2,600 units 19,500 ounces 20,000 ounces 520 hours $ 41,000 $ 12,100 $ 3,050 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased The labor efficiency variance for June is:

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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