ADVANCED ACCOUNTING >CUSTOM<
ADVANCED ACCOUNTING >CUSTOM<
14th Edition
ISBN: 9781265537012
Author: Hoyle
Publisher: MCG CUSTOM
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Chapter 19, Problem 13P
To determine

Identify the correct option out of the given statements.

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Direct labour cost variance: The standard material cost for vinyl use per table is $7.80 based on 6 square feet of vinyl at a cost of $1.60 per square foot. A production run of 1,000 in January resulted in usage of 6,400 square feet of vinyl at a cost of $1.20 per square foot, a total cost of $7,689. What is the quantity variance resulting from the above production run?
Can you please solve this financial accounting question?
Grand Edge Ltd. manufactures high-performance gears requiring 9.2 standard hours per unit at a standard hourly rate of $14.80 per hour. The company produced 7,500 units, consuming 70,800 hours at an actual hourly rate of $14.50 per hour. Determine the direct labor (a) rate variance (b) time variance (c) cost variance
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