The following data relate to labor cost for production of 5,900 cellular telephones: Actual: 3,970 hrs. at $16.10 Standard: 3,910 hrs. at $16.30 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance Time variance 2$ Total direct labor cost variance b. The employees may have been less-experienced or poorly trained, thereby resulting in a labor rate than planned. The lower level of experience or training may have resulted in efficient performance. Thus, the actual time required was than standard.

The following data relate to labor cost for production of 5,900 cellular telephones: Actual: 3,970 hrs. at $16.10 Standard: 3,910 hrs. at $16.30 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance Time variance 2$ Total direct labor cost variance b. The employees may have been less-experienced or poorly trained, thereby resulting in a labor rate than planned. The lower level of experience or training may have resulted in efficient performance. Thus, the actual time required was than standard.

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Description: The following data relate to labor cost for production of 5,900 cellular telephones:Actual:3,970 hrs. at $16.10Standard:3,910 hrs. at $16.30a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance

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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Also, compute the fixed overhead production volume variance
4.
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Direct Material Direct Labor Standard Cost Data per 1 Unit Quantity Price 3 lbs $2.00/lb 2 hrs $4.00/hr Actual Data: Units produced Material purchase & usage Direct Labor Show all computations. 25 100 lbs at $2.20 per lb 30 hrs; total cost $129 a) Compute price variance, quantity variance, direct material variance b) Compute rate variance, efficiency variance, direct labor variance
Direct Labor Variances The following data relate to labor cost for production of 4,000 cellular telephones: Type Actual: Standard: Hours and Rate 2,690 hrs. at $14.70 2,650 hrs. at $15.00 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. b. The employees may have been less-experienced workers who were paid less than more-experienced workers or poorly trained, thereby resulting in a labor rate than planned. The lower level of efficient performance. Thus, the actual time required experience or training may have resulted in than standard. NB: Based upon your answer to (a) use Less, More or Lower to fill in the blank in (b) was
Use the following data to find the direct labor efficiency variance. Direct labor standard (4.5 hrs.@ $6/hr.) Actual hours worked per unit Actual units produced Actual rate per hour O $4,200 unfavorable $16,800 unfavorable O $16,800 favorable $12,600 favorable O $3,150 favorable Question 24 $27per finished unit 4.0 hrs 4,200 units $6.25 Which of the following is an example of a performance measure of the customer persp in a balanced scorecard? 3
Direct Labor Variances The following data relate to labor cost for production of 20,000 cellular telephones: Actual: 8,450 hrs. at $22.50 Standard: 8,400 hrs. at $23.00 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance $fill in the blank 1 Time variance $fill in the blank 3 Total direct labor cost variance $fill in the blank 5 b. The employees may have been less-experienced or poorly trained, thereby resulting in a labor rate than planned. The lower level of experience or training may have resulted in efficient performance. Thus, the actual time required was than standard.
The following data relate to labor cost for production of 20,000 cellular telephones: 8,450 hrs. at $22.50 8,400 hrs. at $23.00 Actual: Standard: a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance Time variance Total direct labor cost variance b. The employees may have been less-experienced or poorly trained, thereby resulting in a lower training may have resulted in less ✔efficient performance. Thus, the actual time required was more 50 X Favorable Unfavorable Favorable V ✓ ✓ ✓labor rate than planned. The lower level of experience or ✓than standard.
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2.2 Use the information provided below to calculate the following manufacturing variances for March2022. Note: Each answer must state whether the variance is favourable or unfavourable2.2.1 Labour rate variance 2.2.2 Labour efficiency variance 2.2.3 Variable overheads efficiency variance Variable overheads expenditure variance INFORMATIONNevada Limited set a standard labour rate of R32 per hour and a standard variable overhead rate of R3.80 perlabour hour.Actual hours worked for March 2022 were 4 910 at a cost of R149 264. The actual variable overhead cost incurredwas R19 640. The standard allowance of labour hours for the output achieved was 5 000 hours.