Actual labor cost (payroll) for June $ 20,000 Labor rate variance $ 4,000 favorable Labor efficiency...
| Actual labor cost (payroll) for June | $ | 20,000 | |||
| Labor rate variance | $ | 4,000 | favorable | ||
| Labor efficiency variance | $ | 2,400 | unfavorable | ||
| Actual direct labor hours worked (AQ) | 1,000 | ||||
Total standard direct labor cost for the output in June (to the nearest dollar) was:
Homework Answers
$1,600 Favourable.
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Actual labor cost (payroll) for June
$
20,000
Labor rate variance
$
4,000
favorable
Labor efficiency...
Prokp Co.'s records for April disclosed the following data relating to direct labor: Actual labor cost...
Prokp Co.'s records for April disclosed the following data relating to direct labor: Actual labor cost (payroll) for April $ 28,000 Labor rate variance $ 4,000 favorable Labor efficiency variance $ 3,300 unfavorable Actual direct labor hours worked (AQ) 2,000 Prokp's total standard direct labor hours allowed (SQ) for units produced in April (to nearest whole number) we Multiple Choice 1,784. 1,794. 2,000. 2,206. 2,216. Please Show how to calculate
What was actual direct labor rate per hour? (AP) Standard direct labor hours for units produced...
What was actual direct labor rate per hour? (AP)
Standard direct labor hours for units produced (SQ) Actual direct labor hours worked (AQ) Direct labor efficiency variance, favorable (F) Total payroll 5,200 5,050 $ 9,750 $353,500
Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance...
Compute the direct labor rate variance and the direct labor
efficiency variance. Indicate whether each variance is favorable or
unfavorable.
Use the following information for the Exercises below. [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Actual a lbs. @ $8.20 per Direct materials 60,700 lb. Direct labor Standard (7 lbs. @ $8 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) 16.999 hrs. @...
The direct labor efficiency variance is caused by A. Lack of efficiency in preparing the budget....
The direct labor efficiency variance is caused by A. Lack of efficiency in preparing the budget. B. Using more or less direct labor than the standard allows. C. Setting a higher or lower wage standard than is practical. D. Paying more or less for direct materials than the standard allows. Assembly line workers at Thompson Manufacturing worked a total of 12,000 direct labor hours to produce 36,000 units. The standard for producing one unit is 15 minutes at a wage...
What is the variable overhead (VOH) spending variance for Terry Company for the period, to the nearest whole dollar? Mu...
What is the variable overhead (VOH) spending variance
for Terry Company for the period, to the nearest whole dollar?
Multiple Choice
$600 favorable.
$800 unfavorable.
$1,000 unfavorable.
$1,400 favorable.
$1,400 unfavorable.
The following information is available from the Terry Company: Actual total factory overhead cost incurred Actual fixed overhead cost incurred Budgeted fixed overhead expenses Actual direct labor hours (DLH) worked Standard DLHs for this period's production (output) Standard variable overhead rate per DLH Standard fixed overhead rate per DLH...
1) 2) 3) 4) 5) A favorable cost variance occurs when Oa. actual costs are the...
1)
2)
3)
4)
5)
A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
Calculating the Direct Labor Rate Variance and the Direct Labor Efficiency Variance Guillermo's Oil and Lube...
Calculating the Direct Labor Rate Variance and the Direct Labor Efficiency Variance Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks. On average, Guillermo has found that a typical oil change takes 24 minutes and 6.2 quarts of oil are used. In June, Guillermo's Oil and Lube had 950 oil changes. Guillermo's Oil and Lube Company provided the following information for the production of oil changes during the month...
n analyzing a company's direct labor, you are provided with: Actual direct labor hours worked: 950...
n analyzing a company's direct labor, you are provided with: Actual direct labor hours worked: 950 Actual rate per hour: $18.25 Standard hours allowed for actual output: 900 Standard rate per hour: $18.50 The labor efficiency variance is _______. (answer favorable or unfavorable, do not calculate the actual variance).
Mastery Problem: Manufacturing Cost Variance (Actual Costs Compared to Standard Costs) Manufacturing cost variances may come...
Mastery Problem: Manufacturing Cost Variance (Actual Costs Compared to Standard Costs) Manufacturing cost variances may come from material costs that are higher or lower than expected, material usage that is not what was expected, higher or lower labor costs than expected, or more or less time spent to produce an item than expected. Overhead cost and volume variances are another cause for costs to be higher or lower than what was expected. The total manufacturing variance can be broken down...
Information regarding Maxwell's direct labor cost for the month of January follows: Direct labor hourly rate...
Information regarding Maxwell's direct labor cost for the month of January follows: Direct labor hourly rate paid Total standard direct labor hours $ 30.50 for units produced this period Direct labor hours actually worked Direct labor rate variance 13,000 12,800 $18,000 favorable Required: 1. Compute the standard direct labor wage rate per hour in January. (Round your answer to 2 decimal places.) 2. Compute the direct labor efficiency variance for January. Was this variance favorable (F) or unfavorable (U)? (Do...
What was actual direct labor rate per hour? (AP)
Standard direct labor hours for units produced (SQ) Actual direct labor hours worked (AQ) Direct labor efficiency variance, favorable (F) Total payroll 5,200 5,050 $ 9,750 $353,500
Compute the direct labor rate variance and the direct labor
efficiency variance. Indicate whether each variance is favorable or
unfavorable.
Use the following information for the Exercises below. [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Actual a lbs. @ $8.20 per Direct materials 60,700 lb. Direct labor Standard (7 lbs. @ $8 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) 16.999 hrs. @...
What is the variable overhead (VOH) spending variance
for Terry Company for the period, to the nearest whole dollar?
Multiple Choice
$600 favorable.
$800 unfavorable.
$1,000 unfavorable.
$1,400 favorable.
$1,400 unfavorable.
The following information is available from the Terry Company: Actual total factory overhead cost incurred Actual fixed overhead cost incurred Budgeted fixed overhead expenses Actual direct labor hours (DLH) worked Standard DLHs for this period's production (output) Standard variable overhead rate per DLH Standard fixed overhead rate per DLH...
1)
2)
3)
4)
5)
A favorable cost variance occurs when Oa. actual costs are the same as standard costs Ob. actual costs are more than standard costs Oc. standard costs are more than actual costs Od. standard costs are less than actual costs The Flapjack Corporation had 8,042 actual direct labor hours at an actual rate of $12.00 per hour. Original production had been budgeted for 1,100 units, but only 999 units were actually produced. Labor standards were 7.9...
Information regarding Maxwell's direct labor cost for the month of January follows: Direct labor hourly rate paid Total standard direct labor hours $ 30.50 for units produced this period Direct labor hours actually worked Direct labor rate variance 13,000 12,800 $18,000 favorable Required: 1. Compute the standard direct labor wage rate per hour in January. (Round your answer to 2 decimal places.) 2. Compute the direct labor efficiency variance for January. Was this variance favorable (F) or unfavorable (U)? (Do...
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