Want your help with Problem The following direct labor data pertain to theoperations of Lumen Fabrication Inc. for themonth of March:Actual labor rateActual hours usedStandard labor rate$10.40 per hour20,500$10.00 per hourStandard hours allowed 19,700Calculate the labor variances.

Concept of Labor Rate Variance:Labor Rate Variance (LRV) measures the difference between what a…

Answered: The following direct labor data pertain…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 7PA: Ellis Companys labor information for September is as follows: A. Compute the standard direct labor...

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Escuchar Products, a producer of DVD players, has established a labor standard for its productdirect labor: 2 hrs at 9.65 per hour. During January, Escuchar produced 12,800 DVD players. The actual direct labor used was 25,040 hours at a total cost of 245,392. Required: 1. Compute the labor rate and efficiency variances. 2. Prepare journal entries for all activities relating to labor.
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The following labor standards have been established for a particular product: Standard labor-hours per unit of output. Standard labor rate.. 1.7 hours $14.05 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked. Actual total labor cost.. 3,700 hours $50,690 2,300 units Actual output . What is the labor rate variance for the month?
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The following direct labor data pertain to the operations of Lumen Fabrication Inc. for the month of March:
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Breakaway Company's labor information for May is as follows: Actual direct labor hours worked Standard direct labor hours allowed Total payroll for direct labor Direct labor time variance $18,320 (unfavorable) A. What is the actual direct labor rate per hour? Round your answer to two decimal places. Actual direct labor rate $ per hour B. What is the standard direct labor rate per hour? Round your answer to two decimal places. Standard direct labor rate per hour
The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost. Actual output What is the labor efficiency variance for the month? Multiple Choice O $26,008 F $26,008 U $22,360 F 7,400 hours $23,048 F $ 96,200 9.6 hours $13.40 per ho 950 units
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Subject : Accounting
The following labor standards have been established for a particular product: Standard labor- 8.4 hours per unit of output Standard labor rate $ Actual hours worked Actual total labor cost 15.70 The following data pertain to operations concerning the product for the last month: $336 F $2,520 F $2,520 U $336 U hours per hour $ 162,330 1,400 10,500 hours Actual output What is the labor rate variance for the month? units
The following labor standards have been established for a particular product Standard labor-hours per unit of output Standard labor rate 10 hours $13.80 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 7,800 hours $104,520 1,050 units What is the labor efficiency variance for the month? Multiple Cholcel $40,380 F s36180 FI Mc. Graw < Prev Type here to search

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The following direct labor data pertain to the operations of Lumen Fabrication Inc. for the month of March: Actual labor rate Actual hours used Standard labor rate $10.40 per hour 20,500 $10.00 per hour Standard hours allowed 19,700 Calculate the labor variances.