Vaughn Family Instruments makes cellos. During the past year, the company made 6,560 cellos even though the budget planned for only 5,710. The company paid its workers an average of $20 per hour, which was $0.50 higher than the standard labor rate. The production manager budgets 4 direct labor hours per cello. During the year, a total of 24,450 direct labor hours were worked. (a) Calculate the direct labor rate and efficiency variances. (If variance is zero, select "Not Applicable" and enter O for the amounts.) Direct labor rate variance $ Direct labor efficiency variance $ 12225 Unfavorable Favorable

Vaughn Family Instruments makes cellos. During the past year, the company made 6,560 cellos even though the budget planned for only 5,710. The company paid its workers an average of $20 per hour, which was $0.50 higher than the standard labor rate. The production manager budgets 4 direct labor hours per cello. During the year, a total of 24,450 direct labor hours were worked. (a) Calculate the direct labor rate and efficiency variances. (If variance is zero, select "Not Applicable" and enter O for the amounts.) Direct labor rate variance $ Direct labor efficiency variance $ 12225 Unfavorable Favorable

Name: A-7 Vaughn Family Instruments makes cellos. During the past year, the
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Description: A-7 Vaughn Family Instruments makes cellos. During the past year, the company made 6,560 cellos even though the budget planned foronly 5,710. The company paid its workers an average of $20 per hour, which was $0.50 higher than the standard labor rate

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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