Don't use ai given answer accounting questions The actual cost of direct labor per hour is $22 and the standardcost of direct labor per hour is $25. The direct labor hours allowedper finished unit is 0.5 hours. During the current period, 4,800units of finished goods were produced using 2,400 direct laborhours. How much is the direct labor rate variance?A. $7,200 favorableB. $7,200 unfavorableC. $14,400 favorableD. $14,400 unfavorable

Step 1: Definition of Direct Labor Rate VarianceThe Direct Labor Rate Variance measures the…

Answered: The actual cost of direct labor per…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 7PB: Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid...

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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?
Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?
Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured 115,000 units. The standard cost sheet indicates that the standard direct labor cost per unit is $1.50. The performance report for the period includes an unfavorable direct labor rate variance of $3,700 and a favorable direct labor time variance of $10,275. What was the total actual cost of direct labor incurred during the period?
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.
A manufacturer planned to use $78 of variable overhead per unit produced, but in the most recent period, it actually used $76 of variable overhead per unit produced. During this same period, the company planned to produce 500 units but actually produced 540 units. What is the variable overhead spending variance?
ABC Inc. spent a total of $48,000 on factory overhead. Of this, $28,000 was fixed overhead. ABC Inc. had budgeted $27,000 for fixed overhead. Actual machine hours were 5.000. Standard hours for units made were 4,800. The standard variable overhead rate was $4.10. What is the variable overhead rate variance?
The actual cost of direct labor per hour is $18 and the standard cost of direct labor per hour is $14.50. The direct labor hours allowed per finished unit is 0.75 hours. During the current period, 5,100 units of finished goods were produced using 2,800 direct labor hours. How much is the direct labor rate variance? A. $9,800 favorable B. $17,850 favorable C. $17,850 unfavorable D. $9,800 unfavorable
The actual cost of direct labor per hour is $16.00 and the standard cost of direct labor per hour is $15.50. The direct labor hours allowed per finished unit is 0.5 hour. During the current period, 5,500 units of finished goods were produced using 3,000 direct labor hours. How much is the direct labor efficiency variance? a. $3,875 favorable b. $3,875 unfavorable c. $4,000 favorable d. $4,000 unfavorable
The actual cost of direct labor per hour is $16.00 and the standard cost of direct labor per hour is $12.00. The direct labor hours allowed per finished unit is 0.50 hour. During the current period, 6,000 units of finished goods were produced using 3,400 direct labor hours. How much is the direct labor rate variance? OA. $13,600 unfavorable OB. $24,000 favorable OC. $13,600 favorable OD. $24,000 unfavorable
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The standard number of hours that should have been worked for the output attained is 10,000 direct labor hours and the actual number of direct labor hours worked was 10,500. If the direct labor rate variance was P10,500 unfavorable, and the standard rate of pay was P12 per direct labor hour, what was the actual rate of pay for direct labor? A. P11 per hour B. P9 per hour C. P13 per hour D. P12 per hour
Assume the following: • The standard labor rate per hour is $17.50. • The standard labor-hours allowed per unit of finished goods is 3 hours. • The actual quantity of labor hours worked during the period was 44,600 hours. • The total actual direct labor cost for the period was $726,000. • The company produced 15,000 units of finished goods during the period. What is the labor efficiency variance? Multiple Choice $7,000 U $7,000 F $54,500 U $54,500 F

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