Direct Labor Variances The direct labor variance is the deviation of actual cost of labor from the standard cost of labor incurred in the actual production. The standard cost of labor is the anticipated budgeted cost that can be ideally incurred for the production of any unit product. The direct labor costs swings proportional to the level of production activities. Direct labor rate and efficiency variances for the period and classify them as favorable and unfavorable.

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Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 21, Problem 11QS

To determine

Direct Labor Variances

The direct labor variance is the deviation of actual cost of labor from the standard cost of labor incurred in the actual production. The standard cost of labor is the anticipated budgeted cost that can be ideally incurred for the production of any unit product. The direct labor costs swings proportional to the level of production activities.

Direct labor rate and efficiency variances for the period and classify them as favorable and unfavorable.

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Answer 2

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Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 21, Problem 11QS

To determine

Direct Labor Variances

The direct labor variance is the deviation of actual cost of labor from the standard cost of labor incurred in the actual production. The standard cost of labor is the anticipated budgeted cost that can be ideally incurred for the production of any unit product. The direct labor costs swings proportional to the level of production activities.

Direct labor rate and efficiency variances for the period and classify them as favorable and unfavorable.

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Answer 3

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 21, Problem 11QS

To determine

Direct Labor Variances

The direct labor variance is the deviation of actual cost of labor from the standard cost of labor incurred in the actual production. The standard cost of labor is the anticipated budgeted cost that can be ideally incurred for the production of any unit product. The direct labor costs swings proportional to the level of production activities.

Direct labor rate and efficiency variances for the period and classify them as favorable and unfavorable.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

Chapter 21, Problem 11QS

To determine