Tools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, Tools-N-Time used 3,850 hours of labor at a total cost of $46,970. What is Tools-N-Time's total labor variance?
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Tools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units, Tools-N-Time used 3,850 hours of labor at a total cost of $46,970. What is Tools-N-Time's total labor variance?
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- Colonels uses a traditional cost system and estimates next years overhead will be $480,000, with the estimated cost driver of 240,000 direct labor hours. It manufactures three products and estimates these costs: If the labor rate is $25 per hour, what is the per-unit cost of each product?Bobcat uses a traditional cost system and estimates next years overhead will be $800.000, as driven by the estimated 25,000 direct labor hours. It manufactures three products and estimates the following costs: If the labor rate is $30 per hour, what is the per-unit cost of each product?Rose Company has a relevant range of production between 10,000 and 25.000 units. The following cost data represents average cost per unit for 15,000 units of production. Using the cost data from Rose Company, answer the following questions: If 10,000 units are produced, what is the variable cost per unit? If 18,000 units are produced, what is the variable cost per unit? If 21,000 units are produced, what are the total variable costs? If 11,000 units are produced, what are the total variable costs? If 19,000 units are produced, what are the total manufacturing overhead costs incurred? If 23,000 units are produced, what are the total manufacturing overhead costs incurred? If 19,000 units are produced, what are the per unit manufacturing overhead costs incurred? If 25,000 units are produced, what are the per unit manufacturing overhead costs incurred?
- Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?Baxter Company has a relevant range of production between 15,000 and 30,000 units. The following cost data represents average variable costs per unit for 25,000 units of production. Using the costs data from Rose Company, answer the following questions: A. If 15,000 units are produced, what is the variable cost per unit? B. If 28,000 units are produced, what is the variable cost per unit? C. If 21,000 units are produced, what are the total variable costs? D. If 29,000 units are produced, what are the total variable costs? E. If 17,000 units are produced, what are the total manufacturing overhead costs incurred? F. If 23,000 units are produced, what are the total manufacturing overhead costs incurred? G. If 30,000 units are produced, what are the per unit manufacturing overhead costs incurred? H. If 15,000 units are produced, what are the per unit manufacturing overhead costs incurred?At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Lopez computes its overhead rates using practical volume, which is 80,000 units. The actual results for the year are as follows: (a) Units produced: 79,600; (b) Direct labor: 158,900 hours at 18.10; (c) FOH: 831,000; and (d) VOH: 112,400. Required: 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances.
- Fitzgerald Company manufactures sewing machines, and they produced 2,500 this past month. The standard variable manufacturing overhead (M0H) rate used by the company is $6.75 per machine hour. Each sewing machine requires 13.5 machine hours. Actual machine hours used last month were 33,500, and the actual variable MOH rate last month was $7.00. Calculate the variable overhead rate variance and the variable overhead efficiency variance.Total direct Labor?The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 2,300 units, the actual direct labor cost was $68,800 for 4,300 direct labor hours worked, the total direct labor variance is____?
- Get Answer Of this One with Method of AccountingThe standard direct labor cost per unit for a company was $21 (= $14 per hour × 1.5 hours per unit). During the period, actual direct labor costs amounted to $136,500, 9,600 labor-hours were worked, and 5,600 units were produced. Required: Compute the direct labor price and efficiency variances for the period.The Russell Company provides the following standard cost data per unit of product: Direct material (3 gallons @ $3 per gallon) Direct labor (2 hours @ $13 per hour) $9.00 $26.00 During the period, the company produced and sold 24,000 units, incurring the following costs: Direct material Direct labor 75,000 gallons @ 48,500 hours @ $ 2.90 per gallon $ 12.75 per hour The direct labor usage variance was: Multiple Choice $6,500 unfavorable. $6.375 unfavorable
