None The following information describes a company's usage ofdirect labor in a recent period:Actual direct labor hours used 32,500Actual rate per hour $18.00Standard rate per hour $16.50Standard hours for units produced 32,000How much is the direct labor efficiency variance?

Step 1: Define Total Labor VarianceDirect labor variance occurs when there is a difference between…

Answered: The following information describes a…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 8PA: Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate...

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Similar questions

Data on Gantry Company's direct labor costs are given below: Standard direct labor-hours Actual direct labor-hours Direct labor efficiency variance-favorable Direct labor rate variance-favorable Total direct labor payroll What was Gantry's standard direct labor rate? 40,000 39,000 $ 3,400 $ 7,800 $ 124,800 Multiple Cholce $3.20 $3.04 $3.40 $7.80
Actual Variable Overhead Rate?
CALCULATE THE AVOR
Subject: Cost Accounting
The estimated unit costs for a company to produce and sell a product at a level of 14,000 units per month are as follows: Estimated Unit Cost Cost Item Direct material Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling expenses Fixed selling expenses What are the estimated prime costs per unit? $ 39 29 24 5 3 4
The manufacturing costs of Ackerman Industries for the first three months of the year follow: Total Costs Units Produced January $124,740 1,815 units February 165,770 3,400 March 194,040 5,115 Using the high-low method, determine (a) the Costs that vary in total dollar amount as the level of activity changes.variable cost per unit and (b) the total Costs that tend to remain the same in amount, regardless of variations in the level of activity.fixed cost. Round all answers to the nearest whole dollar.
Solution for this
Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate per hour? B. What is the standard direct labor rate per hour? C. What was the total standard direct labor cost for May? D. What was the direct labor rate variance for May?
Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Overhead is applied on the basis of direct labor hours. Required: 1. What was the predetermined overhead rate? 2. What was the applied overhead for last year? 3. Was overhead over- or underapplied, and by how much? 4. What was the total cost per unit produced (carry your answer to four significant digits)?
Power Co.s labor information for June is as follows: A. What was the actual labor rate per hour? B. What was the standard labor rate per hour? C. What was the total standard labor cost for units produced in June? D. What was the direct labor time variance for June?
Total and Unit Product Cost Martinez Manufacturing Inc. showed the following costs for last month: Last month, 4,000 units were produced and sold. Required: 1. Classify each of the costs as product cost or period cost. 2. What is the total product cost for last month? 3. What is the unit product cost for last month?
Using High-Low to Calculate Predicted Total Variable Cost and Total Cost for a Time Period That Differs from the Data Period Refer to the information for Pizza Vesuvio on the previous page. Assume that this information was used to construct the following formula for monthly labor cost. TotalLaborCost=5,237+(7.40EmployeeHours) Required: Assume that 4,000 employee hours are budgeted for the coming year. Use the total labor cost formula to make the following calculations: 1. Calculate total variable labor cost for the year. 2. Calculate total fixed labor cost for the year. 3. Calculate total labor cost for the coming year. Use the following information for Brief Exercises 3-17 through 3-20: Pizza Vesuvio makes specialty pizzas. Data for the past 8 months were collected:

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The following information describes a company's usage of direct labor in a recent period: Actual direct labor hours used 32,500 Actual rate per hour $18.00 Standard rate per hour $16.50 Standard hours for units produced 32,000 How much is the direct labor efficiency variance?