The Two Components of the direct labor flexible budget variance are the: a. the direct labor...
The Two Components of the direct labor flexible budget variance are the:
a. the direct labor price variance and the direct labor quantity variance.
b. the direct labor rate variance and the direct labor efficiency variance.
c. the direct labor rate variance and the direct labor standard variance.
d. the direct labor efficiency variance and the direct labor standard variance.
(The answer is not C.)
Homework Answers
Solution:
The Two Components of the direct labor flexible budget variance are the "the direct labor rate variance and the direct labor efficiency variance."
Hence option b is correct.
Add Answer to:
The Two Components of the direct labor flexible budget variance
are the:
a. the direct labor...
What kind of variance represents differences in the flexible budget and the actual results? Direct Labor...
What kind of variance represents differences in the flexible budget and the actual results? Direct Labor Rate Variance? Direct Materials Usage Variance? Sales Price Variance? Or all of them?
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance...
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance (0) Total Direct Labor Variance (c) Direct Labor Direct Labor Cost Variance Efficiency Variance $ 180 U $ 305 F (b) Direct Materials Efficiency Variance $ 145 U Direct Materials Cost Variance $ 520 F Total Variable Overhead Variance Total Fixed Overhead Variant Fixed Overhead (e) Variable Overhead Cost Variance 5750 Variable Overhead Efficiency Variance $ 600 F Cost Variance $ 125 F Print...
The direct labor efficiency variance is caused by A. Lack of efficiency in preparing the budget....
The direct labor efficiency variance is caused by A. Lack of efficiency in preparing the budget. B. Using more or less direct labor than the standard allows. C. Setting a higher or lower wage standard than is practical. D. Paying more or less for direct materials than the standard allows. Assembly line workers at Thompson Manufacturing worked a total of 12,000 direct labor hours to produce 36,000 units. The standard for producing one unit is 15 minutes at a wage...
Polly's Pizza Manufacturing prepared the a flexible budget for last month. Some of the variance analyses...
Polly's Pizza Manufacturing prepared the a flexible budget for last month. Some of the variance analyses are reported below. "F" denotes a favorable variance and "U" denotes an unfavorable variance. Flexible Variances Budget Price Efficiency Direct labor 7,500 112U 750F The actual amount spent for direct manufacturing labor was: Question 20 options: a) $6,638 b) $ 8,128 c) $8,362 d) $6,862
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report...
Problem 21-3A Flexible budget preparation; computation of
materials, labor, and overhead variances; and overhead variance
report LO P1, P2, P3, C2 [The following information applies to the
questions displayed below.]
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $6.00 per...
Matthews & Bros. is a local landscape construction company. In analyzing financial performance, the cost accountant compares actual results with a flexible budget. The standard direct labor rates used in the flexible budget are established each year at th
Matthews & Bros. is a local landscape construction company. In analyzing financial performance, the cost accountant compares actual results with a flexible budget. The standard direct labor rates used in the flexible budget are established each year at the time the annual plan is formulated and held constant for the entire year. The standard direct labor rates in effect for the current fiscal year and the standard hours allowed for the actual output of work for July are shown in the...
Standard Cost and Flexible Budget. Brier Company produces car covers. The company's master budget shows the...
Standard Cost and Flexible Budget. Brier Company produces car covers. The company's master budget shows the following standards information. Expected production for September 5,000 units 29. Direct materials 8 yards per unit at $5 per yard Direct labor 3 hours per unit at $16 per hour Variable manufacturing overhead Required: a. Caleulate the standard cost per unit for direct materials, direct labor, and variable manufacturing overhead using the format shown in Figure 10.1. 3 direct labor hours per unit at...
CGS @ Standard 1,000,000 Direct labor rate variance 120,000 Direct labor efficiency variance (30,000) Direct materials...
CGS @ Standard 1,000,000 Direct labor rate variance 120,000 Direct labor efficiency variance (30,000) Direct materials price variance (50,000) Direct materials quantity variance (60,000) Fixed overhead budget variance (100,000) Fixed overhead volume variance (100,000) Variable overhead spending variance (10,000) Variable overhead efficiency variance 80,000 Adjusted Cost of Goods Sold 850,000 Indicate which of the following is most consistent with the information above: A. The firm used less of the variable overhead driver than they should have, given the amount they...
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report...
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $5.00 per Ib.) Direct labor (1.9 hrs. @ $10.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $20.00 19.00 35.15 $74.15 The predetermined overhead rate ($18.50 per direct...
DRUMMOND’s Camera Shop has prepared the following flexible budget for September and is in the process...
DRUMMOND’s Camera Shop has prepared the following flexible budget for September and is in the process of interpreting the variances. F denotes a favorable variance and U denotes an unfavorable variance. Flexible ------------Variances------------- Budget Price Efficiency Material A $20,000 $1,000F $3,000U Material B 30,000 500U 1,500F Direct manufacturing labor 40,000 500U 2,500F [Please note that Flexible Budget is the same as standard costs of material or labor at actual production. Also Price is the same...
Data Table Total Flexible Budget Product Cost Variance Total Direct Materials Variance Total Manufacturing Overhead Variance (0) Total Direct Labor Variance (c) Direct Labor Direct Labor Cost Variance Efficiency Variance $ 180 U $ 305 F (b) Direct Materials Efficiency Variance $ 145 U Direct Materials Cost Variance $ 520 F Total Variable Overhead Variance Total Fixed Overhead Variant Fixed Overhead (e) Variable Overhead Cost Variance 5750 Variable Overhead Efficiency Variance $ 600 F Cost Variance $ 125 F Print...
Problem 21-3A Flexible budget preparation; computation of
materials, labor, and overhead variances; and overhead variance
report LO P1, P2, P3, C2 [The following information applies to the
questions displayed below.]
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (3.0 Ibs. @ $6.00 per...
Standard Cost and Flexible Budget. Brier Company produces car covers. The company's master budget shows the following standards information. Expected production for September 5,000 units 29. Direct materials 8 yards per unit at $5 per yard Direct labor 3 hours per unit at $16 per hour Variable manufacturing overhead Required: a. Caleulate the standard cost per unit for direct materials, direct labor, and variable manufacturing overhead using the format shown in Figure 10.1. 3 direct labor hours per unit at...
Problem 21-3A Flexible budget preparation; computation of materials, labor, and overhead variances; and overhead variance report LO P1, P2, P3, C2 [The following information applies to the questions displayed below.) Antuan Company set the following standard costs for one unit of its product. Direct materials (4.0 Ibs. @ $5.00 per Ib.) Direct labor (1.9 hrs. @ $10.00 per hr.) Overhead (1.9 hrs. @ $18.50 per hr.) Total standard cost $20.00 19.00 35.15 $74.15 The predetermined overhead rate ($18.50 per direct...
Most questions answered within 3 hours.
-
An unknown amount of a compound with a molecular mass of 284.04
g/mol is dissolved in...
asked 1 minute ago -
You are at rest at a stop sign. There is another stop sign that
is 100...
asked 2 minutes ago -
Calculate the equilibrium electrode potential for Fe3+/Fe2+
redox system, if the initial concentration of Fe2+ is...
asked 6 minutes ago -
Describe in detail with graph and diagram how bonding force,
bonding curves and bonding energy at...
asked 23 minutes ago -
Gingerbread cookies become inedible if not eaten quickly enough.
Clarence is trying to determine how many...
asked 18 minutes ago -
A
crane lifts a 200 kg block a height of 10 m in 18 seconds. What...
asked 21 minutes ago -
A 12.0-g bullet is fired horizontally into a 115-g wooden block
that is initially at rest...
asked 22 minutes ago -
Which DNA primer would have the HIGHEST melting temperature?
Question 17 options:
a)
GCATCGGC
b)
AATCGGAT...
asked 30 minutes ago -
what is the charge on the chromium ion in Cr2O3.
a -3
b -2
c 0...
asked 30 minutes ago -
which of the following may lead to speciation?
a. a group of individuals from a mainland...
asked 35 minutes ago -
Please I need today answer for This question and it is very
important and I need...
asked 54 minutes ago -
Five years from today, you plan to invest $3,700 for 7
additional years at 5.8 percent...
asked 54 minutes ago