The following direct labor standards have been established for product k33L: Standard directlabor - hours 7.2 hours per unit of k33L Standard direct labor wage rate $ 12.80 per hour Thefollowing data pertain to last month's operations: Actual output of product k33L 900 unitsActual direct labor - hours worked 6,600 hours Actual direct labor wages paid $ 78,540Required: a. What was the labor rate variance for the month? b. What was the laborefficiency variance for the month? Indicate each variance as "F" for favorable and "U" forunfavorable.

Step 1: Direct labor variance occurs due to differences in the standard and the actual direct labor…

Answered: The following direct labor standards…

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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The following labour standards have been established for a particular product: Standard labour hours per unit of 8.3 output SINOy Standard labour rate $12.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 6,100 hours Actual total labour cost $71,370 Actual output 900 units What is the labour rate variance for the month? Select one: search ■ 童 0 2) acer BAR DO
A company's standard is 2 hours of direct labor per unit at a rate of $45 per hour. The company shows the following for the year. Actual units produced Actual direct labor used 5,120 units 10,040 hours Actual cost of direct labor used AH = Actual Hours SH=Standard Hours AR= Actual Rate SR Standard Rate Complete this question by entering your answers in the tabs below. Required A Required B Compute the direct labor rate variance, direct labor efficiency variance, and the total direct labor variance. For each variance, indicate whether it is favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost $ $ 471,880 0 $ 0 0 Standard Cost
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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 records of Heritage Home Supplies show the following for July: Standard direct labor-hours allowed per unit of output Standard variable overhead rate per standard direct labor-hour Good units produced Actual direct labor-hours worked Actual total direct labor cost Direct labor efficiency variance Actual variable overhead Required: Compute the direct labor and variable overhead price and efficiency variances. $ 34 3,600 13,925 $ 510,200 $ 17,670 F $ 473,450 Note: Do not round Intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Direct labor: Price variance Efficiency variance Variable overhead: Price variance Efficiency variance
The following data relate to direct labor costs for the current period: 7,200 hours at $11.00 6,400 hours at $10.80 Standard costs Actual costs The direct labor time variance is O a. $8,800 unfavorable O b. $8,640 favorable O c. $8,640 unfavorable O d. $8,800 favorable
The following data relate to direct labor costs for the current period: Line Item Description Value Standard costs 7,000 hours at $11.90 Actual costs 6,300 hours at $10.70 The direct labor time variance is a. $8,330 unfavorable b. $7,490 favorable c. $7,490 unfavorable d. $8,330 favorable
A company reports the following information for its direct labor. Actual hours of direct labor used 64,000 Actual rate of direct labor per hour $ 15 Standard rate of direct labor per hour $ 13 Standard hours of direct labor for units produced 65,300 AH = Actual HoursSH = Standard HoursAR = Actual RateSR = Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable.
A manufactured product has the following Information for June. Standard Quantity and Cost 7 pounds @ $7 per pound 2 DLH @ $16 per DLH 2 DLH@ $12 per DLH Direct materials Direct labor Overhead Units manufactured Compute the (1) direct labor rate variance and (2) direct labor efficiency variance. (Indicate the effect of each varlance by selecting favorable, unfavorable, or no varlance. Round "Rate per hour" answers to 2 decimal places.) AH = Actual Hours SH - Standard Hours = AR = Actual Rate SR = Standard Rate Actual Results 58,600 pounds @ $7.20 per pound 16,300 hours @ $16.50 per hour $ 205,500 8,300 units Actual Cost Standard Cost
Bailey’s standard labor cost of producing one unit of Product DD is 1.8 hours at a rate of $12.4 per hour. During August, 1,436 hours were incurred at a cost of $11.1 per hour to produce 1,134 units of Product DD. Bailey’s direct labor rate variance is $__________ Indicate the amount and whether it is Favorable or Unfavorable by placing F or U by amount, do not skip a space and do not use $ in your answer. For example, if your answer is $1,000 favorable, answer 1000F Selected Answer: 9,371.28F Correct Answer: 1,867 ± 1 (F)
am.111.
The following labour standards have been established for a particular product:standard labour hours per unit of output 2.0 hoursstandard labour rate = $15.00 per hourThe following data pertain to operations concerning the product for the last month:Actual hours worked 3700 hoursactual total labour cost $58000actual output 2300 units what was the labour rate variance for the month?a)1295 favourableb) 2500 unfavorablec) 2950 favourabled) 2950 unfavourable

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