Use the following data to find the total direct labor cost variance if the company produced 3,700units during the period.Direct labor standard (4hrs. @ $6/hr.) $24Actual hours workedActual rate per houra. $7,400 unfavorableb. $12,950 favorable.c. $64,750 favorable.d. $4,625 unfavorable.e. $7,400 favorable.3,700$6.50

The company produced 3,700 units, and each unit requires 4 hours of labor as per the standard rate.…

Answered: Use the following data to find the…

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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Target Costing H. Banks Company would like to design, produce, and sell versatile toasters for the home kitchen market. The toaster will have four slots that adjust in thickness to accommodate both slim slices of bread and oversized bagels. The target price is $70. Banks requires that new products be priced such that 22% of the price is profit. Required: If required, round your answers to two decimal places. 1. Calculate the amount of desired profit per unit of the new toaster.$ 2. Calculate the target cost per unit of the new toaster.$
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Information regarding Maxwell's direct labor cost for the month of January follows: Direct labor hourly rate paid Total standard direct labor hours for units produced this period Direct labor hours actually worked Direct labor rate variance Required: $ 29.10 11,600 11,400 $ 16,600 favorable 1. Compute the standard direct labor wage rate per hour in January. (Round your answer to 2 decimal places.) 2. Compute the direct labor efficiency variance for January. Was this variance favorable or unfavorable? (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) 1. Standard direct labor rate per hour 2. Direct labor efficiency variance
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Subject: accounting Direct labor variances: Yealink Company produces a product that requires 2 standard direct labor hours per unit at a standard hourly rate of $10 per hour. If 7,500 units used 30,900 hours at an hourly rate of $9.90 per hour, what is the direct labor (A) rate variance, (B) time variance, and (C) cost variance?
Standard hours per unit of output Standard variable overhead rate The following data pertain to operations for the last month: Actual direct labor-hours Actual total variable manufacturing overhead cost Actual output What is the variable overhead rate variance for the month? Multiple Choice TB MC Qu. 10-202 (Algo) A manufacturing company that has only one product... A manufacturing company that has only one product has established the following standards for its variable manufacturing overhead. The company bases its variable manufacturing overhead standards on direct labor-hours. C $1446 F saved SUGSF 3.80 direct labor-hours $11.15 per direct labor-hour Help 8,700 direct labor-hours $ 95,840 2,100 units Save & Exit
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AGL Inc. provided the following data related to the direct labor costs for the current period: Data Related to Direct Labor Costs Data Rate Hours Standard $17.50 12,000 Actual $15.50 14,000 Determine the direct labor cost variance. Group of answer choices -$7,000 favorable -$28,000 favorable $7,000 unfavorable $28,000 unfavorable
1
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The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output Standard variable overhead rate The following data pertain to operations for the last month: Actual hours Actual total variable manufacturing overhead cost Actual output What is the variable overhead efficiency variance for the month? Multiple Choice $13,985 U $13,325 U $660 U 6.6 hours $ 13.00 per hour $21,450 F 2,675 hours $ 35,435 250 units
The following data relate to direct labor costs for the current period: Standard 7,400 hours at $11.40 costs Actual costs 6,100 hours at $10.80 The direct labor rate variance is a. $18,480 unfavorable b. $3,660 favorable c. $18,480 favorable X d. $14,820 favorable

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