Explanation Direct labor time variance: Direct labor time variance is the difference between actual direct labor hours, and the standard direct labor hours multiplied by standard rate per hour. When the actual direct labor hours exceeds the standard direct labor hours, the variance is unfavorable . Similarly, when the actual direct labor hour is less than the standard direct labor hour, the variance is favorable . Direct labor rate variance: Direct labor rate variance is the difference between actual rate per hours, and the standard rate per hour multiplied by actual hour. When the actual rate per hours exceeds the standard rate per hours, the variance is unfavorable . Similarly, when the actual rate per hour is less than the standard rate per hour, the variance is favorable . The direct labor in the assembly department on March 31 is as follows: Date Particulars $ $ March. 31 Work in process (1) 198,000 Direct labor time variance (2) 9,000 Direct labor rate variance (3) 4,600 Wages payable (4) 202,400 Table (1) Working notes: (1) Determine the amount of work in process: Work in progress= [ Number of units produced × Standard direct labor hours × Standard direct labor rate ] = 5,000 units × 2 .20 hrs . × $18

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Chapter 8, Problem 20E

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Journalize the direct labor in the assembly department on March 31.

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Chapter 8, Problem 19E

Chapter 8, Problem 21E

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Poonam has a standard of 1.5 pounds of materials per unit, at S6 per pound. In producing 2,000 units, Poonam used 3,100 pounds of materials at a total cost of $18,135. Poonam's material quantity variance is favorable or unfavorable? a. $135 Favorable b. $465 Unfavorable c. $600 Unfavorable MCQ

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Bundle: Managerial Accounting, 14th + Cengagenowv2, 1 Term Printed Access Card

Ch. 8 - What are the basic objectives in the use of...Ch. 8 - What is meant by reporting by the principle of...Ch. 8 - What are the two variances between the actual cost...Ch. 8 - The materials cost variance report for Nickols...Ch. 8 - A. What are the two variances between the actual...Ch. 8 - Prob. 6DQ Ch. 8 - Would the use of standards be appropriate in a...Ch. 8 - A. Describe the two variances between the actual...Ch. 8 - If variances are recorded in the accounts at the...Ch. 8 - Prob. 10DQ

Ch. 8 - Direct materials variances Bellingham Company...Ch. 8 - Direct labor variances Bellingham Company produces...Ch. 8 - Factory overhead controllable variance Bellingham...Ch. 8 - Factory overhead volume variance Bellingham...Ch. 8 - Standard cost journal entries Bellingham Company...Ch. 8 - Prob. 6BE Ch. 8 - Prob. 7BE Ch. 8 - Prob. 1E Ch. 8 - Prob. 2E Ch. 8 - Prob. 3E Ch. 8 - Prob. 4E Ch. 8 - Prob. 5E Ch. 8 - Standard direct materials cost per unit from...Ch. 8 - Prob. 7E Ch. 8 - Prob. 8E Ch. 8 - Prob. 9E Ch. 8 - Prob. 10E Ch. 8 - Prob. 11E Ch. 8 - Direct materials and direct labor variances At the...Ch. 8 - Flexible overhead budget Leno Manufacturing...Ch. 8 - Prob. 14E Ch. 8 - Factory overhead cost variances The following data...Ch. 8 - Prob. 16E Ch. 8 - Prob. 17E Ch. 8 - Factory overhead cost variance report Tannin...Ch. 8 - Prob. 19E Ch. 8 - Prob. 20E Ch. 8 - Prob. 21E Ch. 8 - Prob. 22E Ch. 8 - Prob. 23E Ch. 8 - Prob. 1PA Ch. 8 - Flexible budgeting and variance analysis I Love My...Ch. 8 - Direct materials, direct labor, and factory...Ch. 8 - Factory overhead cost variance report Tiger...Ch. 8 - CodeHead Software Inc. does software development....Ch. 8 - Direct materials and direct labor variance...Ch. 8 - Flexible budgeting and variance analysis Im Really...Ch. 8 - Direct materials, direct labor, and factory...Ch. 8 - Factory overhead cost variance report Feeling...Ch. 8 - Prob. 5PB Ch. 8 - Prob. 5CP Ch. 8 - Prob. 1ADM Ch. 8 - Prob. 2ADM Ch. 8 - Prob. 3ADM Ch. 8 - Ethics in action Dash Riprock is a cost analyst...Ch. 8 - Prob. 3TIF

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