Homework Answers
Question 14
Correct answer--------$8,020 F
.
| Labor Rate Variance | ||||||
| ( | Standard Rate | - | Actual Rate | ) | x | Actual Labor Hours |
| ( | $ 7.50 | - | $ 7.30 | ) | x | 40100 |
| 8020 | ||||||
| Variance | $ 8,020.00 | Favourable-F | ||||
Question 15
Correct answer--------$8,250 U
Working
| Labour Efficiency Variance | ||||||
| ( | Standard Hours | - | Actual Hours | ) | x | Standard Rate |
| ( | 39000 | - | 40100 | ) | x | $ 7.50 |
| -8250 | ||||||
| Variance | $ 8,250.00 | Unfavourable-U | ||||
.
| Standard DATA for | 7800 | Units | |
| Quantity (SQ) | Rate (SR) | Standard Cost | |
| [A] | [B] | [A x B] | |
| Direct labor | ( 5 Hour x 7800 Units)=39000 Hour | $ 7.50 | $ 292,500.00 |
.
| 7800 | Units | ||
| Quantity (AQ) | Rate (AR) | Actual Cost | |
| Direct labor | 40100 | $ 7.30 | $ 292,730.00 |
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$ 7.50 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds...
Cost standards for one unit of product no. C77: Direct material 3 pounds at $2.50 per...
Cost standards for one unit of product no. C77: Direct material 3 pounds at $2.50 per pound $7.50 Direct labor 5 hours at $7.50 per hour 37.50 Actual results: Units produced Direct materials purchased 7,800 units 26,000 pounds at $2.70 23,100 pounds at $2.70 $70,200 Direct materials used 62,370 Direct labor 40,100 hours at $7.30 292,730 The direct-labor rate variance is: O$7,800F. O$7.950F $8,020F. O$8,000U None of these.
The following data relate to product no. 33 of Volusia Corporation: 10 Direct labor standard: 5...
The following data relate to product no. 33 of Volusia Corporation: 10 Direct labor standard: 5 hours at $14 per hour Direct labor used in production: 45,000 hours at a cost of $639,000 Manufacturing activity: 8,900 units completed The direct-labor rate variance is: Multiple Choice Ο $8,900F. Ο $8,90ου. Ο $9,00OF. Ο $9,000U. Ο None of the answers is correct. 12 $ 7.50 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds at $2.50 per...
36 $ 7.50 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds at $2.50 per pound Direct lab...
36 $ 7.50 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds at $2.50 per pound Direct labor 5 hours at $7.50 per hour Actual results: Units produced 8,100 units Direct material purchased 26,600 pounds at $2.70 Direct material used 24,000 pounds at $2.70 Direct labor 41,100 hours at $7.30 (8 04:26:11 $ 71,820 64,800 300,030 Print Assume that the company computes variances at the earliest point in time. The direct-material price variance is: Multiple...
$ 8.40 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds...
$ 8.40 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds at $2.80 per pound Direct labor 5 hours at $7.50 per hour Actual results: Units produced 8,200 units Direct material purchased 27, 200 pounds at $3.00 Direct material used 24,300 pounds at $3.00 Direct labor 41,300 hours at $7.30 8 04:25:44 $ 81,600 72,900 301,490 Print Assume that the company computes variances at the earliest point in time. The direct-labor efficiency variance is: Multiple...
At the beginning of 19X4, Beal Company adopted the following standards: Direct material (3 pounds &$2.50...
At the beginning of 19X4, Beal Company adopted the following standards: Direct material (3 pounds &$2.50 per pound) 750 3750 Direct labor (5 hours $7.50 per hour) Factory overhead: Variable ($3.00 per dircet labor hour) Fixed ($4.00 per direct labor hour) 15.00 20.00 Standard cost per unit Normal volume per month is 40,000 direct labor hours Beal's January 19X4 budget was based on normal volume. During January. Beal produced 7,800 units with records indicating the following: Direct material purchased Direct...
The following data relate to product no. 33 of Volusia Corporation: 34 Direct labor standard: 5...
The following data relate to product no. 33 of Volusia Corporation: 34 Direct labor standard: 5 hours at $14 per hour Direct labor used in production: 43,000 hours at a cost of $610,600 Manufacturing activity: 8,400 units completed 8 04:26:39 The direct-labor efficiency variance is: Print Multiple Choice Ο $14.000F. Ο $14,00ου. Ο $14.20ΟΕ. Ο $14,20ου. Ο None of the answers is correct. 35 $ 7.50 36.00 8 04:26:24 Cost standards for one unit of product no. 077: Direct material...
During June, Danby Company’s material purchases amounted to 8,300 pounds at a price of $7.50 per...
During June, Danby Company’s material purchases amounted to 8,300 pounds at a price of $7.50 per pound. Actual costs incurred in the production of 1,700 units were as follows: Direct labor: $ 142,695 ($18.90 per hour) Direct material: $ 39,000 ($7.50 per pound) The standards for one unit of Danby Company’s product are as follows: Direct Labor: Direct Material: Quantity, 4 hours per unit Quantity, 3 pounds per unit Rate, $18.80 per hour Price, $7.20 per pound Required: Compute the...
The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $4...
The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $4 per pound = $12 per unit Direct labor: 2 hours per unit @ $8 per hour = $16 per unit Variable manufacturing overhead: 2 hours per unit @ $5 per hour = $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased. Units produced 600 units Direct material used .......
The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ 84...
The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ 84 per pound = $12 per unit Direct labor: 2 hours per unit @ $8 per hour = $16 per unit Variable manufacturing overhead: 2 hours per unit @ $5 per hour = $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased. 600 units 2,000 pounds $11,400 $9,240 $5,720 Units...
The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $4...
The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $4 per pound $12 per unit Direct labor: 2 hours per unit @ $8 per hour = $16 per unit Variable manufacturing overhead: 2 hours per unit@ $5 per hour $10 per unit Actual production figures for the past year are given below The company records the materials price variance when materials are purchased Units produced.. 600 units 2,000 pounds si1,400 S9,240 S5,720 Direct material...
Cost standards for one unit of product no. C77: Direct material 3 pounds at $2.50 per pound $7.50 Direct labor 5 hours at $7.50 per hour 37.50 Actual results: Units produced Direct materials purchased 7,800 units 26,000 pounds at $2.70 23,100 pounds at $2.70 $70,200 Direct materials used 62,370 Direct labor 40,100 hours at $7.30 292,730 The direct-labor rate variance is: O$7,800F. O$7.950F $8,020F. O$8,000U None of these.
The following data relate to product no. 33 of Volusia Corporation: 10 Direct labor standard: 5 hours at $14 per hour Direct labor used in production: 45,000 hours at a cost of $639,000 Manufacturing activity: 8,900 units completed The direct-labor rate variance is: Multiple Choice Ο $8,900F. Ο $8,90ου. Ο $9,00OF. Ο $9,000U. Ο None of the answers is correct. 12 $ 7.50 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds at $2.50 per...
36 $ 7.50 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds at $2.50 per pound Direct labor 5 hours at $7.50 per hour Actual results: Units produced 8,100 units Direct material purchased 26,600 pounds at $2.70 Direct material used 24,000 pounds at $2.70 Direct labor 41,100 hours at $7.30 (8 04:26:11 $ 71,820 64,800 300,030 Print Assume that the company computes variances at the earliest point in time. The direct-material price variance is: Multiple...
$ 8.40 37.50 Cost standards for one unit of product no. 077: Direct material 3 pounds at $2.80 per pound Direct labor 5 hours at $7.50 per hour Actual results: Units produced 8,200 units Direct material purchased 27, 200 pounds at $3.00 Direct material used 24,300 pounds at $3.00 Direct labor 41,300 hours at $7.30 8 04:25:44 $ 81,600 72,900 301,490 Print Assume that the company computes variances at the earliest point in time. The direct-labor efficiency variance is: Multiple...
At the beginning of 19X4, Beal Company adopted the following standards: Direct material (3 pounds &$2.50 per pound) 750 3750 Direct labor (5 hours $7.50 per hour) Factory overhead: Variable ($3.00 per dircet labor hour) Fixed ($4.00 per direct labor hour) 15.00 20.00 Standard cost per unit Normal volume per month is 40,000 direct labor hours Beal's January 19X4 budget was based on normal volume. During January. Beal produced 7,800 units with records indicating the following: Direct material purchased Direct...
The following data relate to product no. 33 of Volusia Corporation: 34 Direct labor standard: 5 hours at $14 per hour Direct labor used in production: 43,000 hours at a cost of $610,600 Manufacturing activity: 8,400 units completed 8 04:26:39 The direct-labor efficiency variance is: Print Multiple Choice Ο $14.000F. Ο $14,00ου. Ο $14.20ΟΕ. Ο $14,20ου. Ο None of the answers is correct. 35 $ 7.50 36.00 8 04:26:24 Cost standards for one unit of product no. 077: Direct material...
The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $4 per pound = $12 per unit Direct labor: 2 hours per unit @ $8 per hour = $16 per unit Variable manufacturing overhead: 2 hours per unit @ $5 per hour = $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased. Units produced 600 units Direct material used .......
The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ 84 per pound = $12 per unit Direct labor: 2 hours per unit @ $8 per hour = $16 per unit Variable manufacturing overhead: 2 hours per unit @ $5 per hour = $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased. 600 units 2,000 pounds $11,400 $9,240 $5,720 Units...
The Litton Company has established standards as follows: Direct material: 3 pounds per unit @ $4 per pound $12 per unit Direct labor: 2 hours per unit @ $8 per hour = $16 per unit Variable manufacturing overhead: 2 hours per unit@ $5 per hour $10 per unit Actual production figures for the past year are given below The company records the materials price variance when materials are purchased Units produced.. 600 units 2,000 pounds si1,400 S9,240 S5,720 Direct material...
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