Wangsgard Manufacturing has the following standard cost sheet for one of its products: $ 10 Direct materials (2 ft. @ $5) Direct labor (0.5 hr. @ $10) Fixed overhead (0.5 hr. @ $2) Variable overhead (0.5 hr. @ $4) Standard unit cost 1 $18 *Rate based on expected activity of 2,500 hours. During the most recent year, the following actual results were recorded: Production 6,000 units $ 61,100 29,580 Direct materials (11,750 ft. purchased and used) Direct labor (2,900 hrs.) Fixed overhead Variable overhead 6,000 10,500 Refer to the data given in point (1). What is the efficiency variance of direct -2 ?labor
Wangsgard Manufacturing has the following standard cost sheet for one of its products: $ 10 Direct materials (2 ft. @ $5) Direct labor (0.5 hr. @ $10) Fixed overhead (0.5 hr. @ $2) Variable overhead (0.5 hr. @ $4) Standard unit cost 1 $18 *Rate based on expected activity of 2,500 hours. During the most recent year, the following actual results were recorded: Production 6,000 units $ 61,100 29,580 Direct materials (11,750 ft. purchased and used) Direct labor (2,900 hrs.) Fixed overhead Variable overhead 6,000 10,500 Refer to the data given in point (1). What is the efficiency variance of direct -2 ?labor
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
١و٢
Transcribed Image Text:docs.google.com
The direct and indirect variances. For Example : 700000 u or 700000 f or 700000 only
?What is the price variance of direct materials -1
.ww w -- .
Wangsgard Manufacturing has the following standard cost sheet for one of its
products:
Direct materials (2 ft. @ $5)
Direct labor (0.5 hr. @ $10)
Fixed overhead (0.5 hr. @ $2)
Variable overhead (0.5 hr. @ $4)
Standard unit cost
$ 10
1
2418
Rate based on expected activity of 2,500 hours.
During the most recent year, the following actual results were recorded:
Production
6,000 units
Direct materials (11,750 ft. purchased and used)
Direct labor (2,900 hrs.)
Fixed overhead
Variable overhead
$ 61, 100
29,580
6,000
10,500
Refer to the data given in point (1). What is the efficiency variance of direct -2
?labor
P
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education