Question

For each of the following independent cases, fill in the missing amounts: (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. Round your per unit rates to 2 decimal places.) Casey Co. Kevin, Inc. Jess Company 85 Valerie, Inc. 1,000 1,300 2.10 0.60 360 153 13.00 $ $ $ Units produced Standard hours per unit Standard hours Standard rate per hour Actual hours worked Actual labor cost Direct labor rate variance Direct labor efficiency variance 7.30 2,100 380 10 1,900 12,300 $ $ $ 1,200 30 U $ 600 F $ | $ 300 F 194U | | $ 700U

Answer 1

Kevin Inc Kevin Jess Company Valerie 600 85 1000 1.83 1830 Casey Co Units Purchased Standard Hours Per Unit Standard Hours Standard Rate Per Hour Actual hours worked Actual labor cost Direct Labor Rate Variance Direct Labor Efficiency Variance 1300 2.1 2730 7.30 2100 14,310 600 1,323 F 0.6 360 9.70 380 36,560 300 1.8 153 13.00 90 1,200 30 U 819 F $ 10.00 1900 12,300 6,700 F 700 U $ 197 $ Casey Co Labor Rate Variance = Actual Hours * (std Rate - Actual Rate) 600 (F) = 2100 Hours *($7.1 per hour - Actual Rate) 600(F) =14910 - Actual Labor Cost Actual Labor Cost =$14310

Standard Hours =Standard Hour Per unit * Unit Prodcued =2.1 per hour * 1300 units =$2730 Kevin Unit Produced = Standard Hours / Std Rate Per Hour =360 Hours/0.60 =600 Units

Std Labor Efficiency Variance = Std Rate Per Hour * (std hours - Actual hours) 194 (U) = Std rate Per Hour * (360-380) 194 (U) --20 Std Rate Std Rate =$9.7 per hour Direct Labor Rate Variance = Actual hours * (std rate - Actual rate) 300(F) = Actual hours * (9.7 -actual rate) 300 (F) = 3800 hours * ($9.7 per hour - actual rate per hour) Actual Labor Cost = $36560

Jess Company Standard houres per unit = Stad Hours / Unit Produced =153 hours /85 =1.8 hour per unit Direct Labor Rate Variance = Actual hours * (std rate - Actual rate) 30 (U) = Actual Hours * (Std Rate - Actual Rate) 30(U) = (Actual Hours $13 per hour) - 1200 1170 = Actual Hours $13 per hour Actual Hours Worked =90 hours

Std Labor Efficiency Variance = Std Rate Per Hour* (std hours - Actual hours) =13 (153 hours -90 hours) =$819 (F) Valerie Direct Labor Efficiency Variance = Std Rate * (std hours - actual hours) 700 (U) =$10 * ( std hours - 1900 hours) 700 (U) = 10* std hours - $19000 Std Hours =1830 Hours Direct Labor Rate Variance = Actual hours * (std rate - Actual rate) =Actual Hours * (10 - Actual Rate * actual hours)

=19000 -12300 =$6700