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mula to compute the direct labor rate variance is to calculate the difference between a. Actual...
2. Compute the direct labor cost variance, including its rate and efficiency variances. Standard Cost Actual...
2. Compute the direct labor cost variance, including its rate and efficiency variances. Standard Cost Actual Cost $ $ 0 0 0 0 3. Compute the overhead controllable and volume variances. Controllable Variance Actual overhead Budgeted overhead Controllable variance Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance Check my work 1 ! Required information 12.5 [The following information applies to the questions displayed below.] points Trico Company set the following standard unit costs...
Question text DIRECT LABOR VARIANCE ANALYSIS ON PRODUCTION OF SHIRTS: Information Standard Actual Direct material price...
Question text DIRECT LABOR VARIANCE ANALYSIS ON PRODUCTION OF SHIRTS: Information Standard Actual Direct material price per yard $5.00 $5.20 Direct material quantity (yards) 1,000 990 Direct labor rate per hour $10.00 $9.75 Direct labor hours 1,750 1,700 Units produced 2000 1990 Calculate the Direct Labor Time Variance (select from each drop down box): Direct Labor TIME VARIANCE Calculation (Fav)/Unfav Actual DL hours Choose...9901,7002,0001,9901,0001,750 - Standard DL hours -Choose...9901,7002,0001,9901,0001,750 DL hours difference 10(50)50(10) Choose...UnfavorableFavorable x Standard DL rate per hour...
1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is...
1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. Direct materials (resin).... ........... 13 pounds per pot at a cost of $3.00 per pound Direct labor ....4.0 hours at a cost of $12.00 per hour . . . . . . . . . . . . . . . . . . . ....
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. @...
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead...
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead along with the related controllable and volume variances.Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. A detailed estimate of what a product should cost.Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 70,000 units of product were as follows: Standard Costs Actual Costs Direct materials 189,000 lbs. at $6.00 187,100...
Given the following information regarding direct labor: Actual direct labor hours = 24,000 hours; Actual rate...
Given the following information regarding direct labor: Actual direct labor hours = 24,000 hours; Actual rate per direct labor hour = $14 per hour; Standard direct labor hours per unit = 3 hours per unit; Standard rate per direct labor hour = $11 per hour; Units produced = 9,000 units : -What is the direct labor rate variance? (AR - SR) x AH ? -What is the direct labor efficiency variance? (AH - SH allowed) x SR ?
Which of the following will result in an unfavorable direct labor PRICE variance? when actual direct...
Which of the following will result in an unfavorable direct labor PRICE variance? when actual direct labor hours exceed standard direct labor hours when actual direct labor hours are less than standard direct labor hours when the actual direct labor rate exceeds the standard direct labor rate when the actual direct labor rate is less than the standard direct labor rate
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures faucets in a small manufacturing...
Direct Materials and Direct Labor Variance Analysis Abbeville Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 40 employees. Each employee presently provides 35 hours of labor per week. Information about a production week is as follows: Standard wage per hour $13.20 Standard labor time per faucet 10 min. Standard number of lbs. of brass 1.2 lbs. Standard price per lb. of brass $11.75 Actual price per lb. of brass $12.00 Actual...
REQUIRED: Determine the missing values DIRECT-LABOR PRICE AND QUANTITY VARIANCES ACTUAL LABOR COST Actual Actual Hours...
REQUIRED: Determine the missing values DIRECT-LABOR PRICE AND QUANTITY VARIANCES ACTUAL LABOR COST Actual Actual Hours Price $8.30 Actual Hours X Standard Price $6.90 STANDARD LABOR COST Standard Standard Hours Price 1,500X $6.90 Direct-labor rate variance $197 Unfav. Direct-labor efficiency variance Direct-labor variance DIRECT-MATERIAL PRICE AND QUANTITY VARIANCES ACTUAL MATERIAL COST STANDARD MATERIAL COST Actual Actual Actual Standard Standard Standard Quantity X Price Quantity Price Quantity X Price 420 420 $345.00 435 x $345.00 $2,950 Fav. Direct-material price variance $8.125...
Check my work Labor spending variance Labor efficiency variance $ 3,200 U $ 900 U Required: 1. For direct materials: a....
Check my work Labor spending variance Labor efficiency variance $ 3,200 U $ 900 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. Ints eBook 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. C. Compute the standard hours allowed per unit of product. Print Complete this question by...
2. Compute the direct labor cost variance, including its rate and efficiency variances. Standard Cost Actual Cost $ $ 0 0 0 0 3. Compute the overhead controllable and volume variances. Controllable Variance Actual overhead Budgeted overhead Controllable variance Fixed overhead volume variance Budgeted fixed overhead Fixed overhead cost applied Fixed overhead volume variance Check my work 1 ! Required information 12.5 [The following information applies to the questions displayed below.] points Trico Company set the following standard unit costs...
1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. Direct materials (resin).... ........... 13 pounds per pot at a cost of $3.00 per pound Direct labor ....4.0 hours at a cost of $12.00 per hour . . . . . . . . . . . . . . . . . . . ....
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. @...
REQUIRED: Determine the missing values DIRECT-LABOR PRICE AND QUANTITY VARIANCES ACTUAL LABOR COST Actual Actual Hours Price $8.30 Actual Hours X Standard Price $6.90 STANDARD LABOR COST Standard Standard Hours Price 1,500X $6.90 Direct-labor rate variance $197 Unfav. Direct-labor efficiency variance Direct-labor variance DIRECT-MATERIAL PRICE AND QUANTITY VARIANCES ACTUAL MATERIAL COST STANDARD MATERIAL COST Actual Actual Actual Standard Standard Standard Quantity X Price Quantity Price Quantity X Price 420 420 $345.00 435 x $345.00 $2,950 Fav. Direct-material price variance $8.125...
Check my work Labor spending variance Labor efficiency variance $ 3,200 U $ 900 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. Ints eBook 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. C. Compute the standard hours allowed per unit of product. Print Complete this question by...
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