Q: Titus Company produced 6,500 units of a product that required 4.50 standard hours per unit. The…
A:
Q: Primary Co. has a standard materials price of $4.00 per pound and a standard direct labor rate of…
A: When there is any change between the actual and Standard variance occurred it may be favorable or…
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A: Total labor variance :— It is the difference between standard labor cost for actual production and…
Q: Standard time allowed to complete one unit is 2 hours. A worker during a week (48 hours) completed…
A: Labour Efficiency Variance = Standard Cost for Standard Time Required for Actual Production -…
Q: Actual fixed overhead expenditure in for the same period is C70,000. The labour force manages to…
A: The fixed overhead expenditure variance = Budgeted overhead - Actual overhead If the budgeted…
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A: Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked Labor time…
Q: The following information is provided for Dexter, Inc.: Standard direct labor wage rate: $10/hour…
A: Variances are the variations between the actual costs and the costs estimated for a particular…
Q: Japan Company produces lamps that require 2 standard hours per unit at a standard hourly rate of…
A: Variance analysis is an important technique which is used by cost accountants to compare the…
Q: The standard materials cost to produce 1 unit of Product R is 6 pounds of material at a standard…
A: To calculate: DM quantity variance Standard quantity = 6,600 units x 6 = 39,600 pounds Actual…
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A: Given, Actual rate per hour = $11.85 Standard rate per hour = $12 Actual hours = 58,000 hours
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A: Variance is the difference between budgeted and actual costs or production, on the basis of which…
Q: Assume the following: • The standard labor rate per hour is $17.50. • The standard labor-hours…
A: DIRECT LABOUR COST VARIANCEDirect Labour Cost Variance is the difference between the actual direct…
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A: Total Variance It is important in the calculation of the variance of the cost which is helpful to…
Q: Standard time for the given type of job (In hours)=1,000 Standard rate per hour=P50 Actual time…
A: Actual rate = wages paid/Actual time taken = P36000/900 hours = P 40 Labor rate variance = Actual…
Q: Bellingham Company produces a product that requires 10 standard direct labor hours per unit at a…
A: Direct Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked…
Q: A company uses 4,690 kilograms of materials and exceeds the standard by 690 kilograms. The quantity…
A: Material quantity variance is that part of material cost variance which is due to the difference…
Q: Enter a favorable variance as a negative number. Round your answer to the nearest dollar. $…
A: Given information is: Titus Company produced 3,200 units of a product that required 3.243 standard…
Q: The following data relate to labor cost for production of 4,600 cellular telephones: Actual: 3,130…
A: The question is related to Standard Costing and is of Labor Variance.
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A: Variance analysis is defined as the procedure followed by the management to study the deviations…
Q: Japan Company produces lamps that require 2 standard hours per unit at a standard hourly rate of…
A: Direct labor variance :— It is the difference between standard direct labor cost for actual…
Q: The per-unit standards for direct labor are 2 direct labor hours at P15 per hour. If in producing…
A: Formula: Total direct labor variance = Standard cost - Actual cost
Q: The following data relate to labor cost for production of 33,000 cellular telephones: Actual: 6,330…
A: Direct labor total cost variance shows the impact of any overall change in the amount spent on…
Q: Japan Company produces lamps that require 2 standard hours per unit at an hourly rate of $20.40 per…
A: a. Rate variance (Standard Rate - Actual Rate)*Actual Hour b. Time variance (Standard Hour…
Q: The following data are available for Corp: Normal capacity is 50,000 units at 100,000 direct labor…
A: VARIABLE SPENDING VARIANCE Expenditure or Budget or Price Variance is the variance is due to the…
Q: Bellingham Company produces a product that requires 10 standard direct labor hours per unit at a…
A: Direct labor rate variance = (Actual rate - Standard rate) x Actual hours Direct labor time variance…
Q: Encinas Company produces a product that requires 3 standard hours per unit at a standard hourly rate…
A: Direct labour cost variance shows difference between standard cost of labour and actual cost of…
Q: In producing product ZZ 14,800 direct labor hours were used at a rate of $8.20 per hour. The…
A:
Q: Japan Company produces lamps that require 2 standard hours per unit at a standard hourly rate of…
A: Labor cost variance :It is the difference between standard cost of labor allowed for actual output…
Q: Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a…
A: The variance is the difference between the actual data and standard output of the production.
Q: The standard rate of pay is $14 per direct labour hour. If the actual direct labour payroll was…
A: DIRECT LABOUR PRICE (RATE) VARIANCE : (STANDARD RATE X ACTUAL HOURS) - (ACTUAL RATE X ACTUAL HOURS)…
Q: Bellingham Company produces a product that requires 2 standard hours per unit at a standard hourly…
A: Labor cost variance: Labor cost variance is the difference between actual labor cost and standard…
Q: Direct Labor Variances The following data relate to labor cost for production of 33,000 cellular…
A: Labor cost variance is calculated as the excess of total standard cost over actual cost.
Q: Venneman Company produced 14,000 units of product that required 4 standard hours per unit. The…
A: The fixed overhead volume variance is the difference between the amount of fixed overhead actually…
Q: Alvarado Company produced 2,200 units of product that required 3.5 standard direct labor hours per…
A: The objective of this question is to calculate the fixed factory overhead volume variance for…
Q: Japan Company produces lamps that require 3 standard hours per unit at an hourly rate of $11.30 per…
A: Introduction: Variance analysis is the quantitative examination of the differences between actual…
Q: A. Compute the material price and quantity, and the labor rate and efficiency variances. Enter all…
A: Variance refers to the difference that is calculated by taking the actual cost that is incurred in…
Q: The per-unit standards for direct labor are 1.4 direct labor hours at $13 per hour. If in producing…
A: Variance is considered as the difference between budgeted value and actual results. The management…
Q: The following information is provided for Dexter, Inc.: Standard direct labor wage rate: $10/hour…
A: Formula: Direct labor rate variance = ( Standard rate - Actual rate ) x Actual hours
Q: ssume the following: The standard labor rate per hour is $18.00. The standard labor - hours allowed…
A: Labor efficiency variance measures the efficiency of workers in terms of hours spent for production…
Q: Bellingham Company produces a product that requires 2 standard direct labor hours per unit at a…
A: Direct Labor rate variance = (Actual rate per hour - Standard rate per hour)*Actual hours worked…
Q: Tiktok Corporation has shared the following data about its labor costs for August: Standard wage…
A: The capacity to employ labor in a manner that is consistent with expectations is what the labor…
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- Can you show me how this is done? Bailey’s standard labor cost of producing one unit of Product DD is 1.7 hours at a rate of $12.9 per hour. During August, 1,462 hours were incurred at a cost of $11.8 per hour to produce 1,257 units of Product DD. Bailey’s direct labor rate variance is $__________ Indicate the amount and whether it is Favorable or Unfavorable by placing F or U by amount, do not skip a space and do not use $ in your answer. For example, if your answer is $1,000 favorable, answer 1000F Selected Answer: 8.24 Correct Answer: 1,608 ± 1 (F)Lewis Company's standard labor cost of producing one unit of Product DD is 3.20 hours at the rate of $12.50 per hour. During August, 42,600 hours of labor are incurred at a cost of $12.65 per hour to produce 13,200 units of Product DD. (a) Compute the total labor variance. Total labor variance (b) Compute the labor price and quantity variances. Labor price variance Labor quantity variance (c) $ Labor price variance $ Compute the labor price and quantity variances, assuming the standard is 3.50 hours of direct labor at $12.85 per hour. $ > Labor quantity variance $ <Tippi Company produces lamps that require 2.25 standard hours per unit at a standard hourly rate of $15.00 per hour. Production of 7,700 units required 17,550 hours at an hourly rate of $15.20 per hour. What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? Enter favorable variances as negative numbers. Favorable or unfavorable a. Direct labor rate variance $fill in the blank 1 b. Direct labor time variance $fill in the blank 3 c. Total direct labor cost variance $fill in the blank 5
- .Assume the following: The actual price per pound is $2.25. The standard quantity of pounds allowed per unit of finished goods is 4 pounds. The actual quantity of materials purchased and used in production is 50,000 pounds. The materials price variance is $12,500 U. The materials quantity variance is $4,000 F. What is the total number of units produced (finished goods) during the period?Japan Company produces lamps that require 3 standard hours per unit at an hourly rate of $11.60 per hour. Production of 6,700 units required 19,700 hours at an hourly rate of $11.30 per hour. Enter favorable variances as negative numbers. (a) Determine the direct labor rate variance. (b) Determine the direct labor time variance. (c) Determine the cost variance. %24
- Starts Inc. produces a product that require 8.00 standard hours per unit at a standard hourly rate of $32.00 per hour. Production of 2,500 units required 18,000 hours at an hourly rate of $35.00 per hour. What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? (d) Perform the journal entries related to the variances.Venneman Company produces a product that requires 2 standard hours per unit at a standard hourly rate of $15.00 per hour. If 4,300 units required 8,900 hours at an hourly rate of $14.70 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance $fill in the blank 1 b. Direct labor time variance $fill in the blank 3 c. Total direct labor cost variance $fill in the blank 5Starts Inc. produces a product that require 3.50 standard hours per unit at a standard hourly rate of $17.00 per hour. Production of 7,500 units required 27,550 hours at an hourly rate of $16.00 per hour. What is the direct labor (a) rate variance, (b) time variance, and (c) total cost variance? (d) Perform the journal entries related to the variances.
- Beverly Company has determined a standard variable overhead rate of $4.00 per direct labor hour and expects to incur 0.50 labor hour per unit produced. Last month, Beverly incurred 1,700 actual direct labor hours in the production of 3,500 units. The company has also determined that its actual variable overhead rate is $2.40 per direct labor hour. Calculate the variable overhead rate and efficiency variances as well as the total amount of over- or underapplied variable overhead. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Variable Overhead Rate Variance $2,720 F Variable Overhead Efficiency Variance $200 F Over or under applied Variable Overhead??- how do I figure this out??Feagin Company’s actual variable overhead was $73,000. Actual direct labor hours were 25,000 to make 20,000 finished products. The per-unit standard for direct labor hour is 1.5 hours, and the pre-determined variable overhead rate is $3 per direct labor hour. What were (1) the variable overhead spending variance (2) the variable overhead efficiency variance?Alvarado Company produces a product that requires 2 standard direct labor hours per unit at a standard hourly rate of $18.00 per hour. If 5,300 units used 10,900 hours at an hourly rate of $17.28 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Line Item Description Amount Variance a. Direct labor rate variance $fill in the blank 1 b. Direct labor time variance $fill in the blank 3 c. Direct labor cost variance $fill in the blank 5
