What is the labor rate variance for the month The following labor standards have been established for a particular product:Standard labor hours per unit of output - 1.2 hoursStandard labor rate - $12.30 per hourThe following data pertain to operations concerning the product for the last month:Actual hours worked - 9200 hoursActual total labor cost - $109,700Actual Output - 8900 unitsWhat is the labor rate variance for the month?

The labor rate variance refers to the difference between standard cost and actual cost, brought…

Answered: The following labor standards have been…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 9PA: Power Co.s labor information for June is as follows: A. What was the actual labor rate per hour? B....

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Similar questions

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?
Ellis Companys labor information for September is as follows: A. Compute the standard direct labor rate per hour. B. Compute the direct labor time variance. C. Compute the standard direct labor rate if the direct labor rate variance was $2,712.30 (unfavorable).
If a factory operates at 100% of capacity one month, 90% of capacity the next month, and 105% of capacity the next month, will a different cost per unit be charged to the work-in-process account each month for factory overhead assuming that a predetermined annual overhead rate is used?
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?
Compute the equivalent production (unit output) for the month for each of the following situations:
Calculating factory overhead The standard capacity of a factory is 8,000 units per month. Cost and production data follow: Calculate the amount of factory overhead allowed for the actual volume of production each month and the variance between budgeted and actual overhead for each month.
Rath Company showed the following information for the year: Required: 1. Calculate the standard direct labor hours for actual production. 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance.
Mulliner Company showed the following information for the year: Required: 1. Calculate the standard direct labor hours for actual production. 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance.
Georgia Gasket Co. budgets 8,000 direct labor hours for the year. The total overhead budget is expected to amount to 20,000. The standard cost for a unit of the companys product estimates the variable overhead as follows: The actual data for the period follow: Using the four-variance method, calculate the overhead variances. (Hint: First compute the budgeted fixed overhead rate.)
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?
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 5,700 hours $ 98,610 4.9 hours $17.20 per hour 1,100 units Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month? Note: Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.
The following labor standards have been established for a particular product: Standard labor hours per unit of output 2.8 hours Standard labor rate per hour $ 11.50 The following data pertain to operations concerning the product for the last month: Actual time worked: 6,900 hours Actual total labor cost: $ 80,385 Actual output: 2,300 units What is the labor rate variance for the month? What is the labor efficiency variance for the month?

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