Use the following data to find the direct labor rate variance if the company produced 3,500 units during the period. Direct labor standard (4 hrs. @ $7.10/hr.) $ 28.40 per unit Actual hours worked 12,600 Actual rate per hour $ 7.70

Use the following data to find the direct labor rate variance if the company produced 3,500 units during the period. Direct labor standard (4 hrs. @ $7.10/hr.) $ 28.40 per unit Actual hours worked 12,600 Actual rate per hour $ 7.70

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Description: Use the following data to find the direct labor rate variance if the company produced 3,500 units during the period. Direct labor standard (4 hrs. @ $7.10/hr.)$28.40per unitActual hours worked 12,600 Actual rate per hour$7.70

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 data relate to direct labor costs for the current period: Standard costs 6,900 hours at $11.30 Actual costs 6,400 hours at $10.00 The direct labor rate variance is
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Assume the following: • The variable portion of the predetermined overhead rate is $1.50 per direct labor-hour. • The standard labor-hours allowed per unit of finished goods is 3 hours. • The variable overhead efficiency variance is $1,500 F. • The company produced 15,000 units of finished goods during the period. What is the actual quantity of direct labor-hours worked during the period? Multiple Choice о о O O 44,000 hours 44,500 hours 43,500 hours 43,000 hours
Williams Corporation reports the following direct labor information for November: Standard rate $ 34.00 per hour Actual rate paid $ 34.80 per hour Standard hours allowed for actual production 44,700 hours Labor efficiency variance $ 221,000 F Required: Based on these data, what was the number of actual hours worked and what was the labor price variance? Acutal Hours Worked Hours Labor Price Variance F or U
The following data relate to direct labor costs for the current month : Standard Costs : 6,000 hours @ $ 12.00 per hour Actual Costs : 7,500 hours @ $ 11.60 per hour What is the direct labor rate variance ? $ 2,400 favorable $ 5,800 unfavorable $ 3,000 unfavorable None of the listed choices are correct $ 6,000 favorable