If the standard hours allowed are less than the standard hours at normal capacity, the volume...
If the standard hours allowed are less than the standard hours at normal capacity, the volume variance
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cannot be calculated. |
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will be favourable. |
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will be unfavourable. |
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will be greater than the spending variance. |
Homework Answers
|
Answer) will be unfavourable thus if the standard hours allowed are less than the standard hours at normal capacity the volume variance will be unfavourable. |
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If the standard hours allowed are less than the standard hours
at normal capacity, the volume...
If the actual labour hours worked exceed the standard labour hours allowed, what type of variance...
If the actual labour hours worked exceed the standard labour hours allowed, what type of variance will occur? Multiple Choice Favourable labour efficiency variance. Favourable labour rate variance. Unfavourable labour efficiency variance. Unfavourable labour rate variance.
If the actual labour hours worked exceed the standard labour hours allowed, what type of variance...
If the actual labour hours worked exceed the standard labour hours allowed, what type of variance will occur? Multiple Choice Favourable labour efficiency variance. ) Favourable labour rate variance. 0 Unfavourable labour efficiency variance. 0 Unfavourable labour rate variance. The standards for direct labour for a product are 2.5 hours at $8 per hour. Last month, 9,000 units of the product were made, and the labour efficiency variance was $8,000 favourable. What was the actual number of hours worked during...
answere 17 to 20 The following labour standards have been established for a particular product: Standard...
answere 17 to 20
The following labour standards have been established for a particular product: Standard labour hours per unit of output Standard labour rate 7.5 hours $15.25 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labour cost Actual output 9,600 hours $144,480 1,200 units 17) What was the labour rate variance for the month? a) $240 favourable. b) $240 unfavourable. c) $1,920 favourable. d) $1,920 unfavourable. 18)...
Question 24 Rondell Company uses standard cost system. Indirect costs were budgeted at $190,800 plus $13...
Question 24 Rondell Company uses standard cost system. Indirect costs were budgeted at $190,800 plus $13 per direct labour hour. The overhead rate is based on 10,600 hours. Actual results were: Standard direct labour hours allowed Actual direct labour hours Fixed overhead Variable overhead 9,070 10,600 $179,000 $174,400 Calculate the fixed overhead production volume variance. Fixed overhead production volume variance Calculate the variable overhead spending variance. Variable overhead spending variance $ Calculate the variable overhead efficiency variance. Variable overhead efficiency...
Rondell Company uses a standard cost system. Indirect costs were budgeted at $201,400 plus $13 per direct labour hour. The overhead rate is based on 10,600 hours. Actual results were: Standard direct labour hours allowed 9,400 Actual direct labour hour
Calculate the fixed overhead production volume variance.Fixed overhead production volume variance$ Neither favourable nor unfavourableUnfavourableFavourableCalculate the variable overhead spending variance.Variable overhead spending variance$ FavourableUnfavourableNeither favourable nor unfavourableCalculate the variable overhead efficiency variance.Variable overhead efficiency variance$ Neither favourable nor unfavourableFavourableUnfavourableCalculate the over- or underapplied overhead.
Pagley Company's standard labour cost of producing one unit of Product DD is 4 hours at...
Pagley Company's standard labour cost of producing one unit of Product DD is 4 hours at the rate of $12 per hour During August, 40,800 hours of labour are incurred at a cost of $12.10 per hour to produce 10,000 units of Product Calculate the total direct labour variance: Is it favourable or unfavourable? Calculate the direct labour price variance: Is it favourable or unfavourable? Calculate the direct labour quantity variance: Is it favourable or unfavourable?
Question 5 (23 marks) Cleanup Ltd produces an industrial chemical and uses a standard costing system...
Question 5 (23 marks) Cleanup Ltd produces an industrial chemical and uses a standard costing system to keep tight control over its costs. At the beginning of 2017, the following standard cost sheet (for one unit) was prepared: Direct materials (10kg @ $1.60/kg) Direct labour (0.75 hrs @$18.00hr) Fixed overhead (? /hr) Variable overhead (? /hr) Standard cost per unit $16.00 13.50 3.00 2.25 $34.75 Manufacturing overhead is allocated based on direct labour hours. The budgeted overhead rate is determined...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
11.25Overhead variances: manufacturer LO5] standard manufacturing overhead costs per switch are based on direct 1abour hours...
11.25Overhead variances: manufacturer LO5] standard manufacturing overhead costs per switch are based on direct 1abour hours and are a& follows Bright Spark Ltd is a manufacturer of electrical switches, and uses a standard costing system. The Variable overhead (5 hours$12 per hour) Fixed overhead (5 hours@$18 per hour)* Total overhead $ 60 90 $150 Based on capacity 300000 irect labour hours per month The following information is available for the month of October: 56000 switches were produced, although 60000 switches...
The following data for a pottery company pertain to the production of 2,000 clay pots during...
The following data for a pottery company pertain to the production of 2,000 clay pots during July. Direct Materials (all materials purchased were used): Standard cost: $2.00 per kilogram of clay Total actual cost: $10,640 Standard cost allowed for units produced was $12,000 Materials quantity variance was $800 favourable Direct Manufacturing Labour: Standard cost is 2 pots per hour at $24.00 per hour Actual cost per hour was $24.50 Actual labour was 1028 hours show all steps! a. What is...
If the actual labour hours worked exceed the standard labour hours allowed, what type of variance will occur? Multiple Choice Favourable labour efficiency variance. ) Favourable labour rate variance. 0 Unfavourable labour efficiency variance. 0 Unfavourable labour rate variance. The standards for direct labour for a product are 2.5 hours at $8 per hour. Last month, 9,000 units of the product were made, and the labour efficiency variance was $8,000 favourable. What was the actual number of hours worked during...
answere 17 to 20
The following labour standards have been established for a particular product: Standard labour hours per unit of output Standard labour rate 7.5 hours $15.25 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked Actual total labour cost Actual output 9,600 hours $144,480 1,200 units 17) What was the labour rate variance for the month? a) $240 favourable. b) $240 unfavourable. c) $1,920 favourable. d) $1,920 unfavourable. 18)...
Question 24 Rondell Company uses standard cost system. Indirect costs were budgeted at $190,800 plus $13 per direct labour hour. The overhead rate is based on 10,600 hours. Actual results were: Standard direct labour hours allowed Actual direct labour hours Fixed overhead Variable overhead 9,070 10,600 $179,000 $174,400 Calculate the fixed overhead production volume variance. Fixed overhead production volume variance Calculate the variable overhead spending variance. Variable overhead spending variance $ Calculate the variable overhead efficiency variance. Variable overhead efficiency...
Pagley Company's standard labour cost of producing one unit of Product DD is 4 hours at the rate of $12 per hour During August, 40,800 hours of labour are incurred at a cost of $12.10 per hour to produce 10,000 units of Product Calculate the total direct labour variance: Is it favourable or unfavourable? Calculate the direct labour price variance: Is it favourable or unfavourable? Calculate the direct labour quantity variance: Is it favourable or unfavourable?
Question 5 (23 marks) Cleanup Ltd produces an industrial chemical and uses a standard costing system to keep tight control over its costs. At the beginning of 2017, the following standard cost sheet (for one unit) was prepared: Direct materials (10kg @ $1.60/kg) Direct labour (0.75 hrs @$18.00hr) Fixed overhead (? /hr) Variable overhead (? /hr) Standard cost per unit $16.00 13.50 3.00 2.25 $34.75 Manufacturing overhead is allocated based on direct labour hours. The budgeted overhead rate is determined...
Mark: 19 (1 point for each question) 1) The unemployment rate is high in the city in which a company has a factory. The company finds that they are able to pay new employees a lower wage per hour than when the unemployment rate was lower a year ago. Which variance is directly impacted? A) Materials price variance B) Materials efficiency variance C) Labour price variance D) Labour efficiency variance 2) Thomas Corporation produces stopwatches. According to company standards, it...
11.25Overhead variances: manufacturer LO5] standard manufacturing overhead costs per switch are based on direct 1abour hours and are a& follows Bright Spark Ltd is a manufacturer of electrical switches, and uses a standard costing system. The Variable overhead (5 hours$12 per hour) Fixed overhead (5 hours@$18 per hour)* Total overhead $ 60 90 $150 Based on capacity 300000 irect labour hours per month The following information is available for the month of October: 56000 switches were produced, although 60000 switches...
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