The following data relate to product number 33 of Volusia Corporation: Direct labor standard: 4 hours at $15 per hour Direct labor used in production: 38,000 hours at a cost of $585,200 Manufacturing activity: 9,400 units completed The direct-labor efficiency variance is: Multiple Choice O O O $6,000 F. $6,000 U. $6,160 F
The following data relate to product number 33 of Volusia Corporation: Direct labor standard: 4 hours at $15 per hour Direct labor used in production: 38,000 hours at a cost of $585,200 Manufacturing activity: 9,400 units completed The direct-labor efficiency variance is: Multiple Choice O O O $6,000 F. $6,000 U. $6,160 F
Chapter1: Financial Statements And Business Decisions
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Transcribed Image Text:The following data relate to product number 33 of Volusia Corporation:
Direct labor standard: 4 hours at $15 per hour
Direct labor used in production: 38,000 hours at a cost of $585,200
Manufacturing activity: 9,400 units completed
The direct-labor efficiency variance is:
Multiple Choice
O
O
O
$6,000 F.
$6,000 U.
$6,160 F
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