Use the following data to find the direct labor efficiency variance.Direct labor standard (4.5 hrs.@ $6/hr.)Actual hours worked per unitActual units producedActual rate per hourO $4,200 unfavorable$16,800 unfavorableO $16,800 favorable$12,600 favorableO $3,150 favorableQuestion 24$27per finishedunit4.0 hrs4,200 units$6.25Which of the following is an example of a performance measure of the customer perspin a balanced scorecard?3

Name: Use the following data to find the direct labor efficiency variance.D
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Description: Use the following data to find the direct labor efficiency variance.Direct labor standard (4.5 hrs.@ $6/hr.)Actual hours worked per unitActual units producedActual rate per hourO $4,200 unfavorable$16,800 unfavorableO $16,800 favorable$12,600 favora

Labor efficiency variance is the difference in labor hours worked and standard labor hours at…

Business

Accounting

Use the following data to find the direct labor efficiency variance. Direct labor standard (4.5 hrs.@ $6/hr.) Actual hours worked per unit Actual units produced Actual rate per hour O $4,200 unfavorable O $16,800 unfavorable O $16,800 favorable O $12,600 favorable O $3,150 favorable $27per finished unit 4.0 hrs 4,200 units $6.25

Use the following data to find the direct labor efficiency variance. Direct labor standard (4.5 hrs.@ $6/hr.) Actual hours worked per unit Actual units produced Actual rate per hour O $4,200 unfavorable O $16,800 unfavorable O $16,800 favorable O $12,600 favorable O $3,150 favorable $27per finished unit 4.0 hrs 4,200 units $6.25

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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=t K Sunny Corporation has collected the following data for one of its products: Direct materials standard (3 pounds per unit @ $0.56/lb.) Direct materials flexible budget variance-unfavorable Actual Direct Materials Used (AQU) Actual finished goods produced What is the actual cost of the Direct Materials Used (AQU) per pound? OA. $0.56 OB. $1.36 OC. $1.01 OD. $2.26 $1.68 per finished good $14.000 40,000 pounds 24,000 units
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ACTUAL Direct Materials Direct Labor Summary Mat. Req. No. Description Amount Time Ticket No. Description Amount Item Amount Direct Materials 132 360 meters at $32 H9 18 hours at $19 Direct Labor 134 50 meters at $32 H12 18 hours at $19 Factory Overhead Total Total Total Cost Feedback V Check My Work 1 & 2. Include the estimated and actual direct materials and direct labor. Include the estimated and applied factory overhead. What is the best explanation for the variances between actual costs and estimated costs. For this purpose, assume that the additional meters of material used in the job were spoiled, the factory overhead rate has proven to be satisfactory, and an inexperienced employee performed the work. a. The direct materials cost exceeded the estimate by $40 because 2 meters of materials were spoiled. b. Management didn't provide enough direction to complete tasks on budget. c. The direct materials cost exceeded the estimate by $320 because 10 meters of materials were spoiled.…
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Direct Material Direct Labor Standard Cost Data per 1 Unit Quantity Price 3 lbs $2.00/lb 2 hrs $4.00/hr Actual Data: Units produced Material purchase & usage Direct Labor Show all computations. 25 100 lbs at $2.20 per lb 30 hrs; total cost $129 a) Compute price variance, quantity variance, direct material variance b) Compute rate variance, efficiency variance, direct labor variance
Calculate the labor efficiency variance: Labor costs: Budgeted costs (per unit) 2.25 hours at € 16.40 per hour based on 350 units. Actual: Units: 310 Hours: 620 Labor cost: € 10, 540 a. €1, 435 favourable b. € 1,271 favourable c. € 899 favourable d. €1, 435 adverse
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