Japan Company produces lamps that require 2.25 standard hours per unit at an hourly rate of $15.00 per hour.
Japan Company produces lamps that require 2.25 standard hours per unit at an hourly rate of $15.00 per hour. If 7,700 units required 19,250 hours at an hourly rate of$14.90 per hour, what is the direct labor
(a) rate variance, (b) time variance, and (c) cost variance?
Homework Answers
Answer
- Requirement ‘a’
|
Direct Labor Rate Variance |
||||||
|
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Labor Hours |
|
( |
$ 15.00 |
- |
$ 14.90 |
) |
x |
19250 |
|
1925 |
||||||
|
Variance |
$ 1,925.00 |
Favourable-F |
||||
- Requirement ‘b’
|
Direct Labour Time Variance |
||||||
|
( |
Standard Hours = 7700 units x 2.25 hrs |
- |
Actual Hours |
) |
x |
Standard Rate |
|
( |
17325 |
- |
19250 |
) |
x |
$ 15.00 |
|
-28875 |
||||||
|
Variance |
$ 28,875.00 |
Unfavourable-U |
||||
- Requirement ‘c’
|
Labor Cost Variance |
||||||
|
( |
Standard Cost = 17325 x 15 |
- |
Actual Cost = 19250 x 14.90 |
) |
||
|
( |
$ 259,875.00 |
- |
$ 286,825.00 |
) |
||
|
-26950 |
||||||
|
Variance |
$ 26,950.00 |
Unfavourable-U |
||||
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Japan Company produces lamps that require 2.25 standard hours per unit at an hourly rate of $15.00 per hour.
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