Find the total direct labor cost variance Use the following data to find the total direct labor cost variance ifthe company produced 4,200 units during the period.Direct Labor InformationValuesDirect labor standard (4.5 hrs. @ $7/hr.) $31.50Actual hours workedActual rate per houra. $89,800 favorableb. $72,600 unfavorablec. $85,750 favorabled. $97,200 unfavorable4,500$7.80

Explanation of Direct Labor Standard: Direct labor standard represents the predetermined amount of…

Answered: Use the following data to find the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 7PA: Ellis Companys labor information for September is as follows: A. Compute the standard direct labor...

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Cushing, Inc., costs products using a normal costing system. The following data are available for last year: Overhead is applied on the basis of direct labor hours. What was last years per unit product cost? a. 1.39 b. 4.40 c. 4.43 d. 3.01
Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate per hour? B. What is the standard direct labor rate per hour? C. What was the total standard direct labor cost for May? D. What was the direct labor rate variance for May?
Ripley, Inc., costs products using a normal costing system. The following data are available for last year: Overhead is applied on the basis of direct labor hours. Required: 1. What was the predetermined overhead rate? 2. What was the applied overhead for last year? 3. Was overhead over- or underapplied, and by how much? 4. What was the total cost per unit produced (carry your answer to four significant digits)?
Eagle Inc. uses a standard cost system. During the most recent period, the company manufactured 115,000 units. The standard cost sheet indicates that the standard direct labor cost per unit is $1.50. The performance report for the period includes an unfavorable direct labor rate variance of $3,700 and a favorable direct labor time variance of $10,275. What was the total actual cost of direct labor incurred during the period?
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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
Use the following data to find the total direct labor cost variance if the company produced 3,700 units during the period. Direct labor standard (4hrs. @ $6/hr.) $24 Actual hours worked Actual rate per hour a. $7,400 unfavorable b. $12,950 favorable. c. $64,750 favorable. d. $4,625 unfavorable. e. $7,400 favorable. 3,700 $6.50
Use the following data to find the total direct labor cost variance if the company produced 3,700 units during the period. Direct labor standard (4hrs. @ $6/hr.) $24 Actual hours worked Actual rate per hour a. $7,400 unfavorable b. $12,950 favorable. c. $64,750 favorable. d. $4,625 unfavorable. e. $7,400 favorable. 3,700 $6.50 During the last year, Lucky Corp. generated $702 million in cash flow from operating activities and had negative cash flow generated from investing activities (-$384 million). At the end of the first year, Lucky Corp. had $120 million in cash on its balance sheet, and the firm had $280 million in cash at the end of the second year. What was the firm's cash flow (CF) due to financing activities in the second year? A. $197.50 million B. $118.50 million C. -$79.00 million D. -$158.00 million
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