Homework Answers
Question 1
Correct answer----------$135,520
Working
| Standard DATA for | 2420 | Units | |
| Quantity (SQ) | Rate (SR) | Standard Cost | |
| [A] | [B] | [A x B] | |
| Direct labor | ( 4 Hour x 2420 Units)=9680 Hour | $ 14.00 | $ 135,520.00 |
Question 2
Correct answer----------$18,910 Unfavorable
Working
| Variable Overhead Rate Variance | ||||||
| ( | Standard Rate | - | Actual Rate | ) | x | Actual Labor Hours |
| ( | $ 11.00 | - | $ 13.13 | ) | x | 8890 |
| $ (18,910.00) | ||||||
| Variance | $ 18,910.00 | Unfavourable-U | ||||
.
| Standard DATA for | 4700 | Units | |
| Quantity (SQ) | Rate (SR) | Standard Cost | |
| [A] | [B] | [A x B] | |
| Variable Overhead | ( 2 Hour x 4700 Units)=9400 Hour | $ 11.00 | $ 103,400.00 |
.
| 4700 | Units | ||
| Quantity (AQ) | Rate (AR) | Actual Cost | |
| Variable Overhead | 8890 | $ 13.13 | $ 116,700.00 |
.
Question 3
Correct answer----------$5262.50 Favorable
Working
| Labor Rate Variance | ||||||
| ( | Standard Rate | - | Actual Rate | ) | x | Actual Labor Hours |
| ( | $ 22.50 | - | $ 21.32 | ) | x | 4445 |
| 5262.5 | ||||||
| Variance | $ 5,262.50 | Favourable-F | ||||
.
| 2350 | Units | ||
| Quantity (AQ) | Rate (AR) | Actual Cost | |
| Direct labor | 4445 | $ 21.32 | $ 94,750.00 |
.
| Standard DATA for | 2350 | Units | |
| Quantity (SQ) | Rate (SR) | Standard Cost | |
| [A] | [B] | [A x B] | |
| Direct labor | ( 2 Hour x 2350 Units)=4700 Hour | $ 22.50 | $ 105,750.00 |
Add Answer to:
Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee...
Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee...
Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee has a standard wage rate of $12.00 per hour. During February, Madrid Co. paid $100,300 to employees for 9.240 hours worked, 2,430 units were produced during February. What is the direct labor efficiency variance? Multiple Choice $10.580 favorable 59.732 favorable $5.760 favorable C ) $16.340 favorable Whitman has a direct labor standard of 2 hours per unit of output. Each employee has a standard...
Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee...
Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee has a standard wage rate of $12.00 per hour. During February, Madrid Co. paid $100,300 to employees for 9,150 hours worked. 2,410 units were produced during February. What is the direct labor efficiency variance? $5,880 favorable $15,380 favorable $9,500 favorable $8,652 favorable
Swan Company has a direct labor standard of 15 hours per unit of output. Each employee...
Swan Company has a direct labor standard of 15 hours per unit of output. Each employee has a standard wage rate of $17 per hour. During March employees worked 13,600 hours. The direct labor rate variance was $9.200 favorable, and the direct labor efficiency variance was $15,470 unfavorable How many units were produced? Multiple Choice Ο Ο 907 units Ο Ο Ο 541 units Delaware Corp. prepared a master budget that included $20,300 for direct materials, $48720 for direct labor,...
Whitman has a direct labor standard of 2 hours per unit of output. Each employee has...
Whitman has a direct labor standard of 2 hours per unit of output. Each employee has a standard wage rate of $28.50 per hour. During July, Whitman paid $190,200 to employees for 8,920 hours worked. 4,710 units were produced during July. What is the direct labor efficiency variance? $14,250 favorable $64,020 favorable $64,020 unfavorable $78,270 favorable
Whitman has a direct labor standard of 2 hours per unit of output. Each employee has...
Whitman has a direct labor standard of 2 hours per unit of output. Each employee has a standard wage rate of $23.00 per hour. During July, Whitman paid $198,000 to employees for 8,980 hours worked. 4,780 units were produced during July. What is the direct labor rate variance? (Do not round your intermediate calculations.) $21,880 favorable $8,540 favorable $13,340 favorable $8,540 unfavorable
Swan Company has a direct labor standard of 15 hours per unit of output. Each employee...
Swan Company has a direct labor standard of 15 hours per unit of output. Each employee has a standard wage of $14 per hour. During March, employees worked 13,100 hours. The direct labor rate variance was $9,170 favorable, the direct labor efficiency variance was $15,400 unfavorable. What was the actual payroll?
Scarlett Company has a direct material standard of 3 gallons of input at a cost of...
Scarlett Company has a direct material standard of 3 gallons of input at a cost of $13 per gallon. During July, Scarlett Company purchased and used 7,540 gallons. The direct material quantity variance was $1,170 unfavorable and the direct material price variance was $3.770 favorable. What price per gallon was paid for the purchases? 1 Multiple Choice 0 $13.40 O $10.40 $12.50 0 0 $13.00 Venus Company applies overhead based on direct labor hours. The variable overhead standard is 10...
1.) Exeter has material standard of 1 pound per unit of output. Each pound has a...
1.) Exeter has material standard of 1 pound per unit of output. Each pound has a standard price of $25 per pound. During July, Exeter paid $133,000 for 4,960 pounds, which they used to produce 4,780 units. What is direct materials quantity variance? Answer: $4,500 Unfavorable 2) Whitman has direct labor standard of 2 hours per unit of output. Each Employee has a standard wage rate of $23.50 per hour. During July, Whitman paid $190,400 to employees for 8,960 labor...
Glavine & Co. produces a single product, each unit of which requires three direct labor hours...
Glavine & Co. produces a single product, each unit of which
requires three direct labor hours (DLHs). Practical capacity (for
setting the factory overhead application rate) is 58,000 DLHs, on
an annual basis. The information below pertains to the most recent
year:
Standard direct labor hours (DLHs) per unit produced
3.00
Practical capacity, in DLHs (per year)
58,000
Variable overhead efficiency variance
$
19,000
unfavorable (U)
Actual production for the year
16,500
units
Budgeted fixed manufacturing overhead
$
1,160,000
Standard...
Oxford Co. has a materials standard of 21 pounds per unit of output. Each pound has...
Oxford Co. has a materials standard of 21 pounds per unit of output. Each pound has a standard price of $14 per pound. During February. Oxford Co paid $57.200 for 4,870 pounds, which were used to produce 2.470 units. What is the direct materials price variance? Multiple Choice O $10.900 favorable 0 O $11.540 favorable 0 $10.980 unfavorable O $11540 unfavorable Delaware Corp. prepared a master budget that included $24,360 for direct materials, $28.100 for direct labor. $18,270 for variable...
Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee has a standard wage rate of $12.00 per hour. During February, Madrid Co. paid $100,300 to employees for 9.240 hours worked, 2,430 units were produced during February. What is the direct labor efficiency variance? Multiple Choice $10.580 favorable 59.732 favorable $5.760 favorable C ) $16.340 favorable Whitman has a direct labor standard of 2 hours per unit of output. Each employee has a standard...
Swan Company has a direct labor standard of 15 hours per unit of output. Each employee has a standard wage rate of $17 per hour. During March employees worked 13,600 hours. The direct labor rate variance was $9.200 favorable, and the direct labor efficiency variance was $15,470 unfavorable How many units were produced? Multiple Choice Ο Ο 907 units Ο Ο Ο 541 units Delaware Corp. prepared a master budget that included $20,300 for direct materials, $48720 for direct labor,...
Scarlett Company has a direct material standard of 3 gallons of input at a cost of $13 per gallon. During July, Scarlett Company purchased and used 7,540 gallons. The direct material quantity variance was $1,170 unfavorable and the direct material price variance was $3.770 favorable. What price per gallon was paid for the purchases? 1 Multiple Choice 0 $13.40 O $10.40 $12.50 0 0 $13.00 Venus Company applies overhead based on direct labor hours. The variable overhead standard is 10...
Glavine & Co. produces a single product, each unit of which
requires three direct labor hours (DLHs). Practical capacity (for
setting the factory overhead application rate) is 58,000 DLHs, on
an annual basis. The information below pertains to the most recent
year:
Standard direct labor hours (DLHs) per unit produced
3.00
Practical capacity, in DLHs (per year)
58,000
Variable overhead efficiency variance
$
19,000
unfavorable (U)
Actual production for the year
16,500
units
Budgeted fixed manufacturing overhead
$
1,160,000
Standard...
Oxford Co. has a materials standard of 21 pounds per unit of output. Each pound has a standard price of $14 per pound. During February. Oxford Co paid $57.200 for 4,870 pounds, which were used to produce 2.470 units. What is the direct materials price variance? Multiple Choice O $10.900 favorable 0 O $11.540 favorable 0 $10.980 unfavorable O $11540 unfavorable Delaware Corp. prepared a master budget that included $24,360 for direct materials, $28.100 for direct labor. $18,270 for variable...
Most questions answered within 3 hours.
-
) Raw materials are studied for contamination. Suppose that
the number of particles of contamination per...
asked 9 minutes ago -
After running a regression analysis we calculated an F test and
the significance level was 0.15....
asked 5 minutes ago -
----Can someone please help me solve this one using JAVA
----I thank you in advance
Create...
asked 10 minutes ago -
1. What force primarily attracts the potassium ion to
the nitrate ion?
a. London forces...
asked 11 minutes ago -
What are the negative effects of abruptly stopping the use of
all fossil fuels? Give at...
asked 18 minutes ago -
Given that many conflict are the result of different parties having
different interests, is it possible...
asked 23 minutes ago -
A 750 g block can slide uniformly along the horizontal track
when a string attached to...
asked 26 minutes ago -
In 2017, Juan entered into a contract to write a book. The
publisher advanced Juan $50,000,...
asked 40 minutes ago -
Determine the number of kinds of protons in each molecule (w/
respect to NMR spectroscopy). Drawing...
asked 50 minutes ago -
A jeweler whose near point is 68 cm from his eye uses a
magnifying glass as...
asked 48 minutes ago -
A company wants to determine how many units of each of two
products, A and B,...
asked 52 minutes ago -
The blood pressure of a person changes throughout the day.
Suppose the systolic blood pressure of...
asked 1 hour ago