Solution
Standard labor hours Allowed | 9900 | |
Standard labor cost allowed | $ 57,420.00 | |
Labor Spending Variance | $ 2,544.00 | Unfavourable-U |
Labor rate Variance | $ 1,052.00 | Favourable-F |
Labor Efficiency variance | $ 3,596.00 | Unfavourable-U |
Variable overhead Rate Variance | $ 5,260.00 | Unfavourable-U |
Variable overhead Efficiency Variance | $ 2,666.00 | Unfavourable-U |
Working
Standard DATA for | 19800 | Units | |
Quantity (SQ) | Rate (SR) | Standard Cost | |
[A] | [B] | [A x B] | |
Direct labor | ( 0.5 Hour x 19800 Units)=9900 Hour | $ 5.80 | $ 57,420.00 |
Variable Overhead | ( 0.5 Hour x 19800 Units)=9900 Hour | $ 4.30 | $ 42,570.00 |
.
19800 | Units | ||
Quantity (AQ) | Rate (AR) | Actual Cost | |
Direct labor | 10520 | $ 5.70 | $ 59,964.00 |
Variable Overhead | 10520 | $ 4.80 | $ 50,496.00 |
.
Labor Rate Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Labor Hours |
( | $ 5.80 | - | $ 5.70 | ) | x | 10520 |
1052 | ||||||
Variance | $ 1,052.00 | Favourable-F | ||||
Labour Efficiency Variance | ||||||
( | Standard Hours | - | Actual Hours | ) | x | Standard Rate |
( | 9900 | - | 10520 | ) | x | $ 5.80 |
-3596 | ||||||
Variance | $ 3,596.00 | Unfavourable-U | ||||
Labor Spending Variance | ||||||
( | Standard Cost | - | Actual Cost | ) | ||
( | $ 57,420.00 | - | $ 59,964.00 | ) | ||
-2544 | ||||||
Variance | $ 2,544.00 | Unfavourable-U | ||||
Variable Overhead Rate Variance | ||||||
( | Standard Rate | - | Actual Rate | ) | x | Actual Labor Hours |
( | $ 4.30 | - | $ 4.80 | ) | x | 10520 |
$ (5,260.00) | ||||||
Variance | $ 5,260.00 | Unfavourable-U | ||||
Variable Overhead Efficiency Variance | ||||||
( | Standard Hours | - | Actual Hours | ) | x | Standard Rate |
( | 9900 | - | 10520 | ) | x | $ 4.30 |
$ (2,666.00) | ||||||
Variance | $ 2,666.00 | Unfavourable-U |
Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to...
Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The Elabor standards that have been set for one Jogging Mate are as follows: Standard Hours 24 minutes Standard Rate per Hour $5.80 Standard Cost $2.32 During August, 8,420 hours of direct labor time were needed to make 19,800 units of the Jogging Mate. The direct labor cost totaled $47,994 for the month. Required: 1. What is the standard labor-hours allowed...
Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows: Standard Hours Standard Rate per Hour Standard Cost 27 minutes $6.40 $2.88 During August, 9,470 hours of direct labor time were needed to make 19,800 units of the Jogging Mate. The direct labor cost totaled $58,714 for the month. Required: 1. What is the standard labor-hours allowed...
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Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows: Standard Hours Standard Rate per Hour Standard Cost 24 minutes $5.80 $2.32 During August, 8,420 hours of direct labor time were needed to make 19,800 units of the Jogging Mate. The direct labor cost totaled $47,152 for the month. Required: 1. What is the standard labor-hours allowed...
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Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The labor standards that have been set for one Jogging Mate are as follows: Standard Hours 27 minutes Standard Rate Standard per Hour Cost $5.80 $2.61 During August, 9,490 hours of direct labor time were needed to make 19,600 units of the Jogging Mate. The direct labor cost totaled $53,144 for the month. Required: 1. What is the standard labor-hours allowed...