Managerial Accounting: Creating Value in a Dynamic Business Environment
Managerial Accounting: Creating Value in a Dynamic Business Environment
11th Edition
ISBN: 9781259569562
Author: Ronald W Hilton Proffesor Prof, David Platt
Publisher: McGraw-Hill Education
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Chapter 1, Problem 18RQ

What is meant by the term non-value-added costs?

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Direct Labor Variance Karina will make 5,000 jackets with standard quantity of leather per jacket of 120.03 square inches of material @ $0.25/square inch. The actual quantity of leather per jacket for those 5,000 jackets produced was 122.53 square inches of material @ $0.24/square inch. The standard labor to produce each jacket is one hour for each jacket with a cost of $16.50/hour. The actual labor used to produce each jacket was 1.06 hours at $16/hour. Actual Hours (AH) Actual Rate (AR) Actual Cost (AH * AR) Total Direct = Labor Variance Actual Cost Actual Hours @ Actual Rate Labor Rate Variance Actual Hours @Standard Rate Actual Hours (AH) Standard Rate (SP) Actual Hours @ Standard Rate (AH * SP) Labor Efficiency Variance Standard Cost Standard Hours @ Standard Rate Standard Hours (SQ) Standard Rate (SP) Standard Cost (SQ * SP)
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