A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @ $9 per lb.) 56,500 lbs. @ $9.10 per lb. Direct labor (3 hrs. @ $16 per hr.) 23,700 hrs. @ $16.50 per hr. Overhead (3 hrs. @ $11 per hr.) $ 270,100 Units manufactured 8,000
Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate
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Homework Answers
Direct labor rate variance = (SR-AR)*AH
= (16-16.50)*23700 = $11850 Unfavorable
Direct labor efficiency variance = (SH - AH)*SR
= (8000*3 - 23700)*16 = $4800 Favorable
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A manufactured product has the following information for June.
Standard Actual Direct materials (7 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @ $9 per lb.) 56,500 lbs. @ $9.10 per lb. Direct labor (3 hrs. @ $16 per hr.) 23,700 hrs. @ $16.50 per hr. Overhead (3 hrs. @ $11 per hr.) $ 270,100 Units manufactured 8,000 Compute the direct materials price variance and the direct materials quantity variance. Indicate whether each variance is favorable or unfavorable. AQ = Actual Quantity SQ = Standard Quantity AP...
A manufactured product has the following information for June. Standard Actual Direct materials (5 lbs. @...
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance. Indicate...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (7 lbs. @ $9 per lb.) 56,500 lbs. @ $9.10 per lb. Direct labor (3 hrs. @ $16 per hr.) 23,700 hrs. @ $16.50 per hr. Overhead (3 hrs. @ $11 per hr.) $ 270,100 Units manufactured 8,000 (1) Compute the standard cost per unit. Direct materials Direct labor Overhead Total $0
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. $16 per hr.) (2 hrs. $12 per hr.) Actual 47,200 lbs. @ $7.20 per lb. 15,300 hrs. $16.40 per hr. $ 193,600 7,800 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. @ $8 per lb.) (2 hrs. @ $17 per hr.) (2 hrs. @ $13 per hr.) Actual 36,500 lbs. @ $8.10 per lb. 14,200 hrs. @ $17.50 per hr. $193,700 7,200 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH - Actual Hours SH - Standard Hours AR -...
Required information [The following information applies to the questions displayed below.] A manufactured product has the...
Required information [The
following information applies to the questions displayed below.] A
manufactured product has the following information for June.
Standard Actual Direct materials 5 lbs. @ $9 per lb. 40,400 lbs. @
$9.20 per lb. Direct labor 3 hrs. @ $15 per hr. 23,700 hrs. @
$15.60 per hr. Overhead 3 hrs. @ $12 per hr. $ 294,800 Units
manufactured 8,000 Compute the direct labor rate variance and the
direct labor efficiency variance. (Indicate the effect of each
variance...
The following information applies to the questions displayed below.) A manufactured product has the following information...
The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198,000 8,000 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for...
Required information [The following information applies to the questions displayed below.] A manufactured product has the...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June Standard (7 lbs.@ $9 per lb.) (3 hrs. @ $16 per hr.) (3 hrs. @ $12 per hr.) Actual Direct materials Direct labor Overhead Units manufactured 62,000 lbs. @ $9.20 per lb. 26,000 hrs. @ $16.50 per hr. $323,000 8,800 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable....
A manufactured product has the following information for June. Standard Actual Direct materials (6 lbs. @...
A manufactured product has the following information for June. Standard Actual Direct materials (6 lbs. @ $8 per lb.) 50,400 lbs. @ $8.20 per lb. Direct labor (3 hrs. @ $16 per hr.) 24,700 hrs. @ $16.50 per hr. Overhead (3 hrs. @ $11 per hr.) $ 279,800 Units manufactured 8,300 1) Compute the standard cost per unit and the total cost variance for June. Indicate whether the cost variance is favorable or unfavorable. Direct materials Direct labor Overhead Total...
A manufactured product has the following information for June. Standard Actual Direct materials (5 lbs. @...
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
Compute the direct materials price variance and the direct
materials quantity variance. Indicate...
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate variance and the direct labor efficiency variance. Indicate...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. $16 per hr.) (2 hrs. $12 per hr.) Actual 47,200 lbs. @ $7.20 per lb. 15,300 hrs. $16.40 per hr. $ 193,600 7,800 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH = Actual Hours SH = Standard Hours AR = Actual Rate...
A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (5 lbs. @ $8 per lb.) (2 hrs. @ $17 per hr.) (2 hrs. @ $13 per hr.) Actual 36,500 lbs. @ $8.10 per lb. 14,200 hrs. @ $17.50 per hr. $193,700 7,200 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable. AH - Actual Hours SH - Standard Hours AR -...
Required information [The
following information applies to the questions displayed below.] A
manufactured product has the following information for June.
Standard Actual Direct materials 5 lbs. @ $9 per lb. 40,400 lbs. @
$9.20 per lb. Direct labor 3 hrs. @ $15 per hr. 23,700 hrs. @
$15.60 per hr. Overhead 3 hrs. @ $12 per hr. $ 294,800 Units
manufactured 8,000 Compute the direct labor rate variance and the
direct labor efficiency variance. (Indicate the effect of each
variance...
The following information applies to the questions displayed below.) A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard 6 lbs. @ $8 per lb. 2 hrs. @ $16 per hr. 2 hrs. @ $12 per hr. Actual 48,500 lbs. @ $8.10 per lb. 15,700 hrs. @ $16.50 per hr. $198,000 8,000 Compute the direct labor rate variance and the direct labor efficiency variance. (Indicate the effect of each variance by selecting for...
Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June Standard (7 lbs.@ $9 per lb.) (3 hrs. @ $16 per hr.) (3 hrs. @ $12 per hr.) Actual Direct materials Direct labor Overhead Units manufactured 62,000 lbs. @ $9.20 per lb. 26,000 hrs. @ $16.50 per hr. $323,000 8,800 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favorable or unfavorable....
A manufactured product has the following information for
June.
Standard
Actual
Direct materials
(5 lbs. @ $8 per lb.)
42,900
lbs. @ $8.10 per lb.
Direct labor
(3 hrs. @ $16 per hr.)
25,200
hrs. @ $16.50 per hr.
Overhead
(3 hrs. @ $11 per hr.)
$
287,400
Units manufactured
8,500
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
Compute the direct materials price variance and the direct
materials quantity variance. Indicate...
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