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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Standard labor hours per unit of 4.6 hours output Standard labor rate $20.40 per hours The following data pertain to operations concerning the product for the last month: Actual hours worked 7,200 hours 1,500 units Actual total labor cost $147,600 Actual output Required: a. What is the labor rate variance for the month? (Input the amount as a positive va Leave no cells blank - be certain to enter "O" wherever required. Indicate the ef of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" no effect (i.e., zero variance.) Labor rate variance
13. The following data relate to direct labor costs for the current period: Standard costs 3,200 hours at $8.25 3,800 hours at $8.75 Actual costs What is the direct labor time variance? a. $4,950 favorable b. $4,950 unfavorable c. $1,900 unfavorable d. $1.900 favorable
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Data on Gantry Company's direct labor costs are given below: Standard direct labor-hours Actual direct labor-hours Direct labor efficiency variance-favorable Direct labor rate variance-favorable Total direct labor payroll What was Gantry's standard direct labor rate? 40,000 39,000 $ 3,400 $ 7,800 $ 124,800 Multiple Cholce $3.20 $3.04 $3.40 $7.80
Breakaway Company's labor information for May is as follows: Actual direct labor hours worked Standard direct labor hours allowed Total payroll for direct labor Direct labor time variance $18,320 (unfavorable) A. What is the actual direct labor rate per hour? Round your answer to two decimal places. Actual direct labor rate $ per hour B. What is the standard direct labor rate per hour? Round your answer to two decimal places. Standard direct labor rate per hour
The per-unit standards for direct labor are 1.4 direct labor hours at $13 per hour. If in producing 2800 units, the actual direct labor cost was $45200 for 3400 direct labor hours worked, the total direct labor variance is $5760 favorable. $2360 unfavorable. $5760 unfavorable. $2800 unfavorable.
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The following data relate to direct labor costs for the current period: Standard costs 7,300 hours at $11.80 Actual costs 6,400 hours at $10.00 The direct labor time variance is Oa. $10,620 unfavorable Ob. $9,000 favorable C. $9,000 unfavorable Od. $10,620 favorable
The following labor standards have been established for a particular product Standard labor hours per unit of output Standard labor rate 4.3 hours $ 20.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 6,900 hours $ 139,380 1,500 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 (Le zero variance). Input all amounts as positive values. a. Labor rate variance. b. Labor efficiency variance
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
A company's standard is 2 hours of direct labor per unit at a rate of $45 per hour. The company shows the following for the year. Actual units produced Actual direct labor used 5,120 units 10,040 hours Actual cost of direct labor used AH = Actual Hours SH=Standard Hours AR= Actual Rate SR Standard Rate Complete this question by entering your answers in the tabs below. Required A Required B Compute the direct labor rate variance, direct labor efficiency variance, and the total direct labor variance. For each variance, indicate whether it is favorable or unfavorable. Note: Indicate the effect of each variance by selecting favorable, unfavorable, or no variance. Actual Cost $ $ 471,880 0 $ 0 0 Standard Cost
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