Need help with this question Vanderwaal Company uses astandard costing system. In August,5,460 actual labor hours were workedat a rate of $12.60 per hour. Thestandard number of hours is 5,280and the standard wage rate is $13.50per hour.Determinethe Labor Rte andVariance Labor Efficiency Variance.

Step 1: Define Labor Rate VarianceThe labor rate alteration measures the comparison with the actual…

Answered: Vanderwaal Company uses a standard…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 8PA: Breakaway Companys labor information for May is as follows: A. What is the actual direct labor rate...

See similar textbooks

Similar questions

At the beginning of the year, Lopez Company had the following standard cost sheet for one of its chemical products: Lopez computes its overhead rates using practical volume, which is 80,000 units. The actual results for the year are as follows: (a) Units produced: 79,600; (b) Direct labor: 158,900 hours at 18.10; (c) FOH: 831,000; and (d) VOH: 112,400. Required: 1. Compute the variable overhead spending and efficiency variances. 2. Compute the fixed overhead spending and volume variances.
Rath Company showed the following information for the year: Required: 1. Calculate the standard direct labor hours for actual production. 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance.
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
Mulliner Company showed the following information for the year: Required: 1. Calculate the standard direct labor hours for actual production. 2. Calculate the applied variable overhead. 3. Calculate the total variable overhead variance.
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?
Ellis Companys labor information for September is as follows: A. Compute the standard direct labor rate per hour. B. Compute the direct labor time variance. C. Compute the standard direct labor rate if the direct labor rate variance was $2,712.30 (unfavorable).
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?
Larson Manufacturing uses a standard cost system. The direct labor cost standard is $11.00 direct labor hour. The direct labor efficiency standard is 0.5 direct labor hour per unit. Actual direct labor for the month is 1,200 hours for a total cost of $18,000.00. Production for the month was 3,100 units. The journal entry to record direct labor incurred but not paid would be: O A. Work-in - Process Inventory Direct Labor Cost Variance Direct Labor Efficiency Variance Wages Payable O B. Work-in - Process Inventory Direct Labor Cost Variance Direct Labor Efficiency Variance Wages Payable O C. Work-in - Process Inventory Direct Labor Cost Variance Direct Labor Efficiency Variance Wages Payable O D. Work-in - Process Inventory Direct Labor Cost Variance Direct Labor Efficiency Variance Wages Payable 18,000 3,850 3,850 18,000 17,050 4,800 3,850 17,050 4.800 4.800 17,050 17,050 4.800 25,700 3,850 18,000 -C
A company reports the following information for its direct labor. Actual hours of direct labor used (AH) Actual rate of direct labor per hour (AR) Standard rate of direct labor per hour (SR) Standard hours of direct labor for units produced (SH) 72,000 $ 16 $ 15 73,300 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost Standard Cost
A company reports the following information for its direct labor. Actual hours of direct labor used Actual rate of direct labor per hour Standard rate of direct labor per hour Standard hours of direct labor for units produced AH = Actual Hours SH = Standard Hours AR = Actual Rate SR Standard Rate 72,000 $ 15 $ 13 73,800 Compute the direct labor rate and efficiency variances and identify each as favorable or unfavorable. Actual Cost Standard Cost
Vermont Inc. has provided the following data concerning one of the products in its standard cost system. Standard Quantity or Hours per Unit of Output 0.20 hours Inputs Direct labor The company has reported the following actual results for the product for May: Actual output Actual direct labor-hours Actual direct labor rate. The labor rate variance for the month is closest to: $2,576 U O $2,816 U O $2,816 F Standard Price or Rate $21.70 per hour O $2,576 F 8,800 units 1,610 hours S 23.30 per hour
Terrell Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Inputs Variable manufacturing overhead O $46 U $2.30 per hour The company has reported the following actual results for the product for July: Actual output Actual direct labor-hours Actual variable overhead rate S 2.10 per hour Actual variable overhead cost $ 4,998 The variable overhead efficiency variance for the month is closest to: $42 F Standard Quantity or Hours per Unit of Output O $46 F O $42 U Standard Price or Rate 0.30 hours 8,000 units 2,380 hours

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

Vanderwaal Company uses a standard costing system. In August, 5,460 actual labor hours were worked at a rate of $12.60 per hour. The standard number of hours is 5,280 and the standard wage rate is $13.50 per hour. Determine the Labor Rte and Variance Labor Efficiency Variance.