Round your answer nearest $ The following data relate to direct labor costs for the current period:Standard costs 6,903 hours at $11.60Actual costs6,394 hours at $10.40|What is the direct labor rate variance? (Round Your Answer)

Explanation of Direct Labor Rate Variance:Direct labor rate variance measures the difference between…

Answered: The following data relate to direct…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 8PA: Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate...

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Which of the following costs would be classified as variable and which would be classified as fixed, if units produced is the activity base? A. Direct materials costs B. Electricity costs of 0.35 per kilowatt-hour
Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for a Time Period That Differs from the Data Period Refer to the information for Pizza Vesuvio on the previous page. Assume that this information was used to construct the following formula for monthly labor cost. TotalLaborCost=5,237+(7.40EmployeeHours) Required: Assume that 4,000 employee hours are budgeted for the coming year. Use the total labor cost formula to make the following calculations: 1. Calculate total variable labor cost for the year. 2. Calculate total fixed labor cost for the year. 3. Calculate total labor cost for the coming year. Use the following information for Brief Exercises 3-17 through 3-20: Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected:
Ribcos labor cost information for making its only product for March is as follows: A. What is the direct labor rate variance? B. What is the direct labor time variance? C. What is the total direct labor variance?
What is the standard labor cost per output unit?
Using the least-squares method of analyzing costs, answer the following questions and show computations to support your answers. a. What is the estimated variable portion of maintenance costs per labor hour? B.What is the estimated fixed maintenance cost each month? C.Formulate the regression equation D.If it is estimated that 600 labor hours will be used in July, what is the expected total power cost for July?
what is the net operating income for the month under variable costing?
The "x" in the overhead cost equation, y = $5.50x + $92,000, represents which of the following? total overhead costs. the variable costs. total fixed costs. the cost driver in units.
A. What percentage of the variation in overhead costs is explained by the independent variable? B. What is the total overhead cost for an estimated activity level of 50,000 direct labor hours? C. How much is the variable manufacturing cost per unit, using the variable overhead estimated by the regression (assuming that direct materials and direct labor are variable costs)? D. What is the expected contribution margin per unit to be earned during the first year on 20,000 units of the new product? (Assume that all marketing and administrative costs are fixed.) E. What is the manufacturing cost equation implied by these results?
Identifying the Parts of the Cost Formula; Calculating Monthly, Quarterly, and Yearly Costs Using a Cost Formula Based on Monthly Data Gordon Company's controller, Eric Junior, estimated the following formula, based on monthly data, for overhead cost: Overhead Cost = $209,000 + ($82 x Direct Labor Hours) Required: 1. Select the term in the right column that corresponds to the term in the left column. Overhead cost Dependent variable v $209,000 Fixed cost (intercept) v $82 Variable rate (slope) Direct labor hours Independent variable v 2. If next month's budgeted direct labor hours equal 19,000, what is the budgeted overhead cost? 1,767,000 V 3. If next quarter's budgeted direct labor hours equal 95,000, what is the budgeted overhead cost? 4. If next year's budgeted direct labor hours equal 380,000, what is the budgeted overhead cost? $
Please give me answer Accounting
1.Using the high-low method of analyzing costs, answer the following questions and show computations to support your answers. a. What is the estimated variable portion of maintenance costs per labor hour? 2.What is the estimated fixed maintenance cost each month? 3.Formulate the regression equation 4.If it is estimated that 600 labor hours will be used in July, what is the expected total power cost for July? 5.Using the least-squares method of analyzing costs, answer the following questions and show computations to support your answers. a. What is the estimated variable portion of maintenance costs per labor hour? 5a. What is the estimated fixed maintenance cost each month? 5b.Formulate the regression equation 5c.If it is estimated that 600 labor hours will be used in July, what is the expected total power cost for July?

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The following data relate to direct labor costs for the current period: Standard costs 6,903 hours at $11.60 Actual costs 6,394 hours at $10.40| What is the direct labor rate variance? (Round Your Answer)