Homework Answers
17. Labor rate variance = (standard rate - actual rate)*actual hours
= (15.25-144480/9600)*9600
= $1920 favorable
Option c. is correct answer.
18. Labor efficiency variance = (1200*7.5 - 9600)*15.25 = $9150 unfavorable
Option d. is correct answer.
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answere 17 to 20
The following labour standards have been established for a particular product: Standard...
If the actual labour hours worked exceed the standard labour hours allowed, what type of variance...
If the actual labour hours worked exceed the standard labour hours allowed, what type of variance will occur? Multiple Choice Favourable labour efficiency variance. ) Favourable labour rate variance. 0 Unfavourable labour efficiency variance. 0 Unfavourable labour rate variance. The standards for direct labour for a product are 2.5 hours at $8 per hour. Last month, 9,000 units of the product were made, and the labour efficiency variance was $8,000 favourable. What was the actual number of hours worked during...
answere 7 to 11 7) During June, Bradley Company produced 4,000 units of product. The standard...
answere 7 to 11
7) During June, Bradley Company produced 4,000 units of product. The standard cost card indicates the following labour standards per unit of output: 3.5 hours @ $6 per hour $21. During the month, the company worked 15.000 hours. The standard hours allowed for the month were a) 14,000 hours. b) 15,000 hours. c) 24,000 hours. d) 18,000 hours. 8) Refer to the data in question 17) above. What is the labour efficiency variance for June? a)...
Happy Valley Pet Products uses a standard costing system that applies overhead to products based on...
Happy Valley Pet Products uses a standard costing system that
applies overhead to products based on standard direct labour-hours
allowed for actual output of the period. During the recent year,
the following data were collected:
Total budgeted fixed overhead cost for the
year
$
148,770
Actual fixed overhead cost for the year
$
145,070
Budgeted standard direct labour-hours
26,100
Actual direct labour-hours
27,600
Standard direct labour-hours allowed for the actual
output
24,100
Required:
1.
Compute the fixed portion of...
The following labor standards have been established for a particular product: Standard labor-hours per unit of...
The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate 8.7 hours $15.60 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 8,600 hours $131,580 850 units What is the labor rate variance for the month?
The following labor standards have been established for a particular product: Standard labor-hours per unit of...
The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate 8.7 hours $12.50 per hour The following data pertain to operations concerning the product for the last month: 30 Actual hours worked Actual total labor cost Actual output 6,500 hours $78,650 900 units What is the labor efficiency variance for the month?
he following labor standards have been established for a particular product: Standard labor hours per unit...
he following labor standards have been established for a particular product: Standard labor hours per unit of output 4.2 hours Standard labor rate $ 20.00 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 6,800 hours Actual total labor cost $ 136,680 Actual output 1,600 units Required: a. What is the labor rate variance for the month? b. What is the labor efficiency variance for the month? (Indicate the effect of each...
The following labor standards have been established for a particular product Standard labor-hours per unit of...
The following labor standards have been established for a particular product Standard labor-hours per unit of output Standard labor rate 7.9 hours $15.45 per hour roduct for the last mo The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 10,000 hours $152,100 1,150 units What is the labor rate variance for the month?
16) The following labor standards have been established for a particular product: Standard labor-hours per unit...
16) The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate $ 8.7 hours 18.10 per hour The following data pertain to operations concerning the product for the last month: 3,800 hours Actual hours worked Actual total labor cost Actual output $ 67,640 500 units What is the labor efficiency variance for the month? A) $9,790 F B $11,095 U C) $9,955 F D) $11,095 F 1510)
The following labor standards have been established for a particular product: Standard labor-hours per unit of...
The following labor standards have been established for a particular product: Standard labor-hours per unit of output 8.7 hours Standard labor rate $ 12.50 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 6,500 hours Actual total labor cost $ 78,650 Actual output 900 units What is the labor efficiency variance for the month? Multiple Choice $19,225 F $19,225 U $16,093 F $16,625 F
The following labor standards have been established for a particular product: Standard labor-hours per unit of...
The following labor standards have been established for a particular product: Standard labor-hours per unit of output 9.2 hours Standard labor rate $ 16.30 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 9,300 hours Actual total labor cost $ 148,800 Actual output 920 units What is the labor rate variance for the month? Multiple Choice $2,790 F $10,837 F $13,376 U $10,837 U
If the actual labour hours worked exceed the standard labour hours allowed, what type of variance will occur? Multiple Choice Favourable labour efficiency variance. ) Favourable labour rate variance. 0 Unfavourable labour efficiency variance. 0 Unfavourable labour rate variance. The standards for direct labour for a product are 2.5 hours at $8 per hour. Last month, 9,000 units of the product were made, and the labour efficiency variance was $8,000 favourable. What was the actual number of hours worked during...
answere 7 to 11
7) During June, Bradley Company produced 4,000 units of product. The standard cost card indicates the following labour standards per unit of output: 3.5 hours @ $6 per hour $21. During the month, the company worked 15.000 hours. The standard hours allowed for the month were a) 14,000 hours. b) 15,000 hours. c) 24,000 hours. d) 18,000 hours. 8) Refer to the data in question 17) above. What is the labour efficiency variance for June? a)...
Happy Valley Pet Products uses a standard costing system that
applies overhead to products based on standard direct labour-hours
allowed for actual output of the period. During the recent year,
the following data were collected:
Total budgeted fixed overhead cost for the
year
$
148,770
Actual fixed overhead cost for the year
$
145,070
Budgeted standard direct labour-hours
26,100
Actual direct labour-hours
27,600
Standard direct labour-hours allowed for the actual
output
24,100
Required:
1.
Compute the fixed portion of...
The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate 8.7 hours $15.60 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 8,600 hours $131,580 850 units What is the labor rate variance for the month?
The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate 8.7 hours $12.50 per hour The following data pertain to operations concerning the product for the last month: 30 Actual hours worked Actual total labor cost Actual output 6,500 hours $78,650 900 units What is the labor efficiency variance for the month?
The following labor standards have been established for a particular product Standard labor-hours per unit of output Standard labor rate 7.9 hours $15.45 per hour roduct for the last mo The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labor cost Actual output 10,000 hours $152,100 1,150 units What is the labor rate variance for the month?
16) The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate $ 8.7 hours 18.10 per hour The following data pertain to operations concerning the product for the last month: 3,800 hours Actual hours worked Actual total labor cost Actual output $ 67,640 500 units What is the labor efficiency variance for the month? A) $9,790 F B $11,095 U C) $9,955 F D) $11,095 F 1510)
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