Homework Answers
| a | |||
| Labor rate variance | 3660 | U | =32000-(2180*13) |
| b | |||
| Labor efficiency variance | 1560 | F | =13*(2180-4600*0.5) |
| c | |||
| Flexible budget labor cost variance | 2100 | U | =32000-(4600*0.5*13) |
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Direct Labor Variances Assume that Nortel manufactures specialty electronic circuitry through a unique photoelectronic process. One...
eBook Print Question 8 Partially correct Mark 050 out of 1.00 P Pag question Direct Labor...
eBook Print Question 8 Partially correct Mark 050 out of 1.00 P Pag question Direct Labor Variances Assume that Nortel manufactures specialty electronic circuitry through a unique photoelectronic process. One of the primary products, Model ZX40, has a standard labor time of 0.5 hour and a standard labor rate of $15.50 per hour. During February, the following activities pertaining to direct labor for DX40 were recorded: Direct labor hours used 2.230 Direct labor cost 540.000 Units of ZX40 manufactured 4.700...
Direct Labor Variances Bellingham Company produces a product that requires 10 standard direct labor hours per...
Direct Labor Variances Bellingham Company produces a product that requires 10 standard direct labor hours per unit at a standard hourly rate of $19.00 per hour. If 4,600 units used 46,900 hours at an hourly rate of $18.05 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance...
Direct Labor Variances Bellingham Company produces a product that requires 7 standard direct labor hours per...
Direct Labor Variances Bellingham Company produces a product that requires 7 standard direct labor hours per unit at a standard hourly rate of $13.00 per hour. If 2,800 units used 20,400 hours at an hourly rate of $12.74 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance...
1. Compute the price and quantity variances for direct materials. Compute the rate and efficiency variances...
1. Compute the price and quantity variances for direct materials. Compute the rate and efficiency variances for direct labor. Does the pattern of variances suggest that the company's managers have been making trade-offs? Explain. 2, Bargain Guard, which used a standard cost accounting system, manufactured 200,000 boat fenders during the year, using 1,250,000 feet of extruded vinyl purchased at $1.40 per foot. Production required 4,000 direct labor hours that cost $14.50 per hour. The materials standard was 6 feet of...
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 13,000...
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 13,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows: Direct materials $19,500 Direct labor 11,830 Total $31,330 The standard materials price is $0.50 per pound. The standard direct labor rate is $13.00 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: $18,200 Actual direct materials Actual...
Direct Labor Variances Bellingham Company produces a product that requires 4 standard hours per unit at...
Direct Labor Variances Bellingham Company produces a product that requires 4 standard hours per unit at a standard hourly rate of $13.00 per hour. If 5,700 units required 23,700 hours at an hourly rate of $12.48 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate...
Direct Labor Variances The following data relate to labor cost for production of 4,600 cellular telephones:...
Direct Labor Variances The following data relate to labor cost for production of 4,600 cellular telephones: Actual: 3,080 hrs. at $15.4 Standard: 3,030 hrs. at $15.7 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance $ Time variance $ Total direct labor cost variance $
Direct Labor Variances Greeson Clothes Company produced 24,000 units during June of the current year. The...
Direct Labor Variances Greeson Clothes Company produced 24,000 units during June of the current year. The Cutting Department used 4,600 direct labor hours at an actual rate of $14.70 per hour. The Sewing Department used 7,600 direct labor hours at an actual rate of $14.40 per hour. Assume that there were no work in processinventories in either department at the beginning or end of the month. The standard labor rate is $14.60. The standard labor time for the Cutting and...
Direct Labor Variances Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for...
Direct Labor Variances Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October of the current year are available: Quantity of direct labor used 470 hrs. Actual rate for direct labor $12.70 per hr. Bicycles completed in October 220 bicycles Standard direct labor per bicycle 2 hrs. Standard rate for direct labor $13.00 per hr. a. Determine for October the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a...
Direct Labor Variances The following data relate to labor cost for production of 4,600 cellular telephones:...
Direct Labor Variances The following data relate to labor cost for production of 4,600 cellular telephones: Actual: 3,120 hrs. at $13 Standard: 3,070 hrs. at $13.3 a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance $ Favorable Time variance $ Unfavorable Total direct labor cost variance $ Favorable b. The...
eBook Print Question 8 Partially correct Mark 050 out of 1.00 P Pag question Direct Labor Variances Assume that Nortel manufactures specialty electronic circuitry through a unique photoelectronic process. One of the primary products, Model ZX40, has a standard labor time of 0.5 hour and a standard labor rate of $15.50 per hour. During February, the following activities pertaining to direct labor for DX40 were recorded: Direct labor hours used 2.230 Direct labor cost 540.000 Units of ZX40 manufactured 4.700...
Direct Labor Variances Bellingham Company produces a product that requires 7 standard direct labor hours per unit at a standard hourly rate of $13.00 per hour. If 2,800 units used 20,400 hours at an hourly rate of $12.74 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate variance...
1. Compute the price and quantity variances for direct materials. Compute the rate and efficiency variances for direct labor. Does the pattern of variances suggest that the company's managers have been making trade-offs? Explain. 2, Bargain Guard, which used a standard cost accounting system, manufactured 200,000 boat fenders during the year, using 1,250,000 feet of extruded vinyl purchased at $1.40 per foot. Production required 4,000 direct labor hours that cost $14.50 per hour. The materials standard was 6 feet of...
Direct Materials and Direct Labor Variances At the beginning of June, Kimber Toy Company budgeted 13,000 toy action figures to be manufactured in June at standard direct materials and direct labor costs as follows: Direct materials $19,500 Direct labor 11,830 Total $31,330 The standard materials price is $0.50 per pound. The standard direct labor rate is $13.00 per hour. At the end of June, the actual direct materials and direct labor costs were as follows: $18,200 Actual direct materials Actual...
Direct Labor Variances Bellingham Company produces a product that requires 4 standard hours per unit at a standard hourly rate of $13.00 per hour. If 5,700 units required 23,700 hours at an hourly rate of $12.48 per hour, what is the direct labor (a) rate variance, (b) time variance, and (c) total direct labor cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct labor rate...
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