Answers
Material Spending Variance |
||||||
( |
Standard Cost |
- |
Actual Cost |
) |
||
( |
$ 353,920.00 |
- |
$ 352,000.00 |
) |
||
1920 |
||||||
Variance |
$ 1,920.00 |
Favourable-F |
Material Price Variance |
||||||
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Quantity |
( |
$ 224.00 |
- |
$ 220.00 |
) |
x |
1600 |
6400 |
||||||
Variance |
$ 6,400.00 |
Favourable-F |
Material Quantity Variance |
||||||
( |
Standard Quantity |
- |
Actual Quantity |
) |
x |
Standard Rate |
( |
1580 |
- |
1600 |
) |
x |
$ 224.00 |
-4480 |
||||||
Variance |
$ 4,480.00 |
Unfavourable-U |
Labor Spending Variance |
||||||
( |
Standard Cost |
- |
Actual Cost |
) |
||
( |
$ 53,500.00 |
- |
$ 54,600.00 |
) |
||
-1100 |
||||||
Variance |
$ 1,100.00 |
Unfavourable-U |
Labor Rate Variance |
||||||
( |
Standard Rate |
- |
Actual Rate |
) |
x |
Actual Labor Hours |
( |
$ 12.50 |
- |
$ 13.00 |
) |
x |
4200 |
-2100 |
||||||
Variance |
$ 2,100.00 |
Unfavourable-U |
Labour Efficiency Variance |
||||||
( |
Standard Hours |
- |
Actual Hours |
) |
x |
Standard Rate |
( |
4280 |
- |
4200 |
) |
x |
$ 12.50 |
1000 |
||||||
Variance |
$ 1,000.00 |
Favourable-F |
The following direct materials and direct labor data pertain to the operations of Laurel Company for...
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Exercise 25-6 The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate Actual materials price Standard labor rate Standard materials price $13 per hour $220 per ton $12.50 per hour $224 per ton Quantities Actual hours incurred and used Actual quantity of materials purchased and used...
Exercise 23-8 Your answer is partially correct. Try again. The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate Actual materials price Standard labor rate Standard materials price $13 per hour $220 per ton $12.50 per hour $224 per ton Quantities Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used 4,200 hours 1,600 tons 4,280...
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate $12 per hour Actual materials price $190 per ton Standard labor rate $11.50 per hour Standard materials price $193 per ton Quantities Actual hours incurred and used 4,100 hours Actual quantity of materials purchased and used 1,500 tons Standard hours used 4,140 hours Standard quantity of materials used 1,490 tons (a) Compute the total, price, and...
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate $13 per hour Actual materials price $290 per ton Standard labor rate $12.50 per hour Standard materials price $292 per ton Quantities Actual hours incurred and used 4,200 hours Actual quantity of materials purchased and used 1,000 tons Standard hours used 4,290 hours Standard quantity of materials used 990 tons (a) Compute the total, price, and...
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate $15 per hour Actual materials price $260 per ton Standard labor rate $14.50 per hour Standard materials price $262 per ton Quantities Actual hours incurred and used 4,100 hours Actual quantity of materials purchased and used 1,500 tons Standard hours used 4,190 hours Standard quantity of materials used 1,485 tons (a) Compute the total, price, and...
The tollowing direct materials and direct labor data pertain to the operations of Laurel Company tor the month of August Costs Actual labor rate Actual materials price Standard labor rate Standard materials price $16 per hour $260 per ton $15.50 per hour $263 per ton uantities Actual hours incurred and used Actual quantity of materials purchased and used Standard hours used Standard quantity of materials used 3,700 hours 1,700 tons 3,780 hours 1,690 tons Compute the total, price, and quantity...
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate $15 per hour Actual materials price $180 per ton Standard labor rate $14.50 per hour Standard materials price $182 per ton Quantities Actual hours incurred and used 4,700 hours Actual quantity of materials purchased and used 1,900 tons Standard hours used 4,760 hours Standard quantity of materials used 1,890 tons (a) Compute the total, price, and...
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate $15 per hour Actual materials price $140 per ton Standard labor rate $14.50 per hour Standard materials price $142 per ton Quantities Actual hours incurred and used 3,800 hours Actual quantity of materials purchased and used 1,500 tons Standard hours used 3,850 hours Standard quantity of materials used 1,490 tons (a) Compute the total, price, and...
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August. Costs Actual labor rate $15 per hour Actual materials price $140 per ton Standard labor rate $14.50 per hour Standard materials price $142 per ton Quantities Actual hours incurred and used 3,800 hours Actual quantity of materials purchased and used 1,500 tons Standard hours used 3,850 hours Standard quantity of materials used 1,490 tons (a) Compute the total, price, and...
The following direct materials and direct labor data pertain to the operations of Sheffield Company for the month of August. Costs Actual labor rate $15 per hour Actual materials price $260 per ton Standard labor rate $14.50 per hour Standard materials price $262 per ton Quantities Actual hours incurred and used 4,100 hours Actual quantity of materials purchased and used 1,500 tons Standard hours used 4,190 hours Standard quantity of materials used 1,485 tons (a) Compute the total, price, and...