The Company budgeted 33.0 hours of direct labor per unit at $14.75 per hour to produce 300 replica door knobs. The 300 knobs were completed using 1100. hours of direct labor at $13.75 per hour. What is the direct labor rate variance?

The Company budgeted 33.0 hours of direct labor per unit at $14.75 per hour to produce 300 replica door knobs. The 300 knobs were completed using 1100. hours of direct labor at $13.75 per hour. What is the direct labor rate variance?

Name: The Company budgeted 33.0 hours of direct labor per unit at $14.75 per
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: The Company budgeted 33.0 hours of direct labor per unit at $14.75 per hour to produce 300 replica door knobs. The 300 knobs were completed using 1100. hours of direct labor at $13.75 per hour. What is the direct labor rate variance?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Newbill Enterprises recently used 34,000 labor hours to produce 11,200 completed units. According to manufacturing specifications, each unit is anticipated to take 2.95 hours to complete. The company's actual payroll cost amounted to S673,200. If the standard labor cost per hour is $20.20, Newbill's labor rate variance is:
Pretty Draperies manufactures curtains. A certain window requires the following: Direct materials standard: 10 square yards at $5 per yard Direct labor standard: 5 hours at $10 During the second quarter, the company made 1,500 curtains and used 14,000 square yards of fabric costing $68,600. Actual direct labor hours used totaled 7,600 hours for $79,800. Compute the direct manufacturing labor rate (price) and quantity (efficiency) variances for the quarter (show calculations): DL rate variance $_____________________ Circle one: Favorable Unfavorable DL quantity variance $__________________…
RM1. Your company expected to produce 200 units during July. Each unit was expected to require 2 hours of direct labor. Labor cost was expected to be $10 per hour. Your company actually produced and sold 220 units and used an average of 2.1 labor hours per unit. An actual labor rate was $9.8 per hour. Determine the labor rate and usage variances.
What is the amount of the Factory OH Volume Variance, given the following info: Actual production = 5,000 units Actual Costs = $202,500.00 for variable FOH + $60,000.00 for fixed FOH Budgeted Costs = $250,000 (standard hours for 5,000 units produced of 25,000 hours * standard FOH rate of $10.00) The standard OH rate = $10.00 per DL hour ($8.00 for variable FOH and $2.00 for fixed FOH) based on 100% capacity of 30,000 DL hours Group of answer choices $12,500.00 favorable $12,500.00 unfavorable $10,000.00 favorable $10,000.00 unfavorable
Greyson Company produced 8,300 units of product that required 4.25 standard hours per unit. Determine the fixed factory overhead rate at 27,000 hours, which is 100% of normal capacity, if the favorable fixed factory overhead volume variance is $14,895.
Use this information for Flapjack Corporation to answer the question that follow. Flapjack Corporation had 7,784 actual direct labor hours at an actual rate of $12.34 per hour. Original production had been budgeted for 1,100 units, but only 973 units were actually produced. Labor standards were 7.3 hours per completed unit at a standard rate of $13.00 per hour. Round your answer to the nearest cent. The direct labor time variance is $5,121.87 unfavorable $5,121.87 favorable $8,854.30 unfavorable $8,854.30 favorable
SouthCo planned to use $35 of variable overhead per unit produced, but in the most recent period, it actually used $33 of variable overhead per unit produced. During this same period, the company planned to produce 100 units in 120 hours but actually produced 100 units in 150 hours. Calculate the variable overhead rate variance, the variable overhead efficiency variance, and the total variable overhead cost variance and complete the diagram. Please make sure your final answer(s) are accurate to the nearest whole number. Box 1 Box 2 Box 3 (Select one) x (Select one) (Select one) x (Select one) (Select one) x (Select one) Box 4 Variable Overhead Rate Variance (Select one) Box 6 Total Variable Overhead Cost Variance (Select one) Box 5 Variable Overhead Efficiency Variance (Select one)
Product N requires a standard amount of 3 labour hours per unit, at a standard rate of £9.50 per hour. The budget production for August was 1,300 units. During August, 1,400 units of product N were actually made and actual labour time charged to the product was 4,700 hours at a cost of £42,300. What is the labour rate variance?
Feagin Company’s actual variable overhead was $73,000. Actual direct labor hours were 25,000 to make 20,000 finished products. The per-unit standard for direct labor hour is 1.5 hours, and the pre-determined variable overhead rate is $3 per direct labor hour. What were (1) the variable overhead spending variance (2) the variable overhead efficiency variance?
Bandar Industries manufàctures sporting equipment. During the quarter ending June 30, the company manufactured 30,000 helmets, using 15,800 kilograms of plastic. The actual plastic cost $112,000. According to standard costs, each helmet should require 0.5 kilgrams of plastic at a cost of $7 per kilogram. 1. What is the materials price variance (dollars)? 2. Is the materials price variance favorable or unfavorable? 3. What is the materials quantity variance (dollars)? 4. Is the materials quantity variance favorable or unfavorable? 5. What is the total materials variance (dollars)? 6. Is the total materials variance favorable or unfavorable? Enter your answers in the same order as above.
I need help with question
A company has determined that the standard for materials is 10 square feet at $4 per square foot. If a process produces 2000 units and uses 18 square feet per unit at $5 per square foot, then what is the materials quantity variance? Select one a $ 64,000 unfavorable b) $64, 000 favorable c) $18,000 unfavorable d) $ 18,000 favorable