Calculate the labor variance The following direct labor data pertain to theoperations of Lumen Fabrication Inc. for themonth of March:Actual labor rate$10.40 per hourActual hours usedStandard labor rate20,500$10.00 per hourStandard hours allowed 19,700Calculate the labor variances.

Explanation of Actual Labor Rate:The actual labor rate is the amount a company actually pays workers…

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.
Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid $32 per hour for labor, for a total of $718,848. The standard hours per unit are 6.4, and the standard labor wage rate is $38.40 per hour. A. What are the actual hours worked? B. What are the standard hours for the units made? C. What is the direct labor rate variance for April? D. What Is the direct labor time variance for April? E. What is the total direct labor variance for April?
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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 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
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
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Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) Standard direct labor hours allowed (SQ) Total payroll for direct labor Direct labor efficiency variance The direct labor rate variance for February was: 63,000 70,000 $ 630,000 $ 61,600
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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 $10.40 per hour Actual hours used Standard labor rate 20,500 $10.00 per hour Standard hours allowed 19,700 Calculate the labor variances.