Homework Answers
| Option B is the answer | |
| Labor efficiency variance arises when the standard hours allowed for the actual output and actual hours taken are different from each other. Production manager is responsible for this |
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The labor efficiency variance is the responsibility of: O Purchasing manager O Production manager O Payroll...
The variance that is most useful in assessing the performance of the purchasing department manager is:...
The variance that is most useful in assessing the performance of the purchasing department manager is: Group of answer choices: A. the materials price variance B. the direct labor efficiency variance C. the direct labor rate variance D. the materials quantity variance
Actual labor cost (payroll) for June $ 20,000 Labor rate variance $ 4,000 favorable Labor efficiency...
Actual labor cost (payroll) for June $ 20,000 Labor rate variance $ 4,000 favorable Labor efficiency variance $ 2,400 unfavorable Actual direct labor hours worked (AQ) 1,000 Total standard direct labor cost for the output in June (to the nearest dollar) was:
20 Which of the following would be LEAST likely to contribute toward an unfavorable Labor Efficiency...
20 Which of the following would be LEAST likely to contribute toward an unfavorable Labor Efficiency Variance? A. The maintenance department has not been adequately monitoring production equipment. B. The production manager lowered variable overhead costs by reducing the supervision of the production line C. The purchasing manager reduced the price of materials by purchasing lower quality materials D. The production manager assigned a greater mix of higher-paid, higher-skilled employees to the production line E. None of the above would...
The company applies the standard cost system and the purchasing manager and production manager are responsible...
The company applies the standard cost system and the purchasing manager and production manager are responsible for the variance of direct materials and direct wages .The standard price per ton of basic raw material is 4 $ and the standard allowable quantity is 6 tons per unit .The average hourly wage is 14 $ and the standard unit needs 0.5 hours Action. During the last week, production reached 10,000 units. Due to labor shortage, the production manager was forced to...
Which of the following is not likely to cause a labor efficiency variance? O a. We...
Which of the following is not likely to cause a labor efficiency variance? O a. We purchased materials that were poor in quality. b. One of the supervisors discovered a way to streamline a process. O c. There was a flu outbreak and workers had to cover unfamiliar positions. O d. We produced more units than were budgeted.
Which of the following is not true of the use of materials variance information? a. The...
Which of the following is not true of the use of materials variance information? a. The production manager is generally responsible for materials usage. b. The production manager is concerned with minimizing scrap, waste, and rework. c. The purchasing department is responsible for acquiring quality materials. d. The purchasing agent has the responsibility for controlling the materials price variance. e. All of these choices are true.
Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance...
Compute the direct labor rate variance and the direct labor
efficiency variance. Indicate whether each variance is favorable or
unfavorable.
Use the following information for the Exercises below. [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Actual a lbs. @ $8.20 per Direct materials 60,700 lb. Direct labor Standard (7 lbs. @ $8 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) 16.999 hrs. @...
Which of the following is true of direct labor variances? a. The labor efficiency variance measures...
Which of the following is true of direct labor variances? a. The labor efficiency variance measures the difference between what was paid to direct laborers and what should have been paid. b. The labor rate variance measures the difference between the labor hours that were actually used and the labor hours that should have been used. c. The labor rate variance measures the difference between the labor hours that were originally budgeted and the labor hours that should have been...
Check my work Labor spending variance Labor efficiency variance $ 3,200 U $ 900 U Required: 1. For direct materials: a....
Check my work Labor spending variance Labor efficiency variance $ 3,200 U $ 900 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. Ints eBook 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. C. Compute the standard hours allowed per unit of product. Print Complete this question by...
1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is...
1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. Direct materials (resin).... ........... 13 pounds per pot at a cost of $3.00 per pound Direct labor ....4.0 hours at a cost of $12.00 per hour . . . . . . . . . . . . . . . . . . . ....
20 Which of the following would be LEAST likely to contribute toward an unfavorable Labor Efficiency Variance? A. The maintenance department has not been adequately monitoring production equipment. B. The production manager lowered variable overhead costs by reducing the supervision of the production line C. The purchasing manager reduced the price of materials by purchasing lower quality materials D. The production manager assigned a greater mix of higher-paid, higher-skilled employees to the production line E. None of the above would...
Which of the following is not likely to cause a labor efficiency variance? O a. We purchased materials that were poor in quality. b. One of the supervisors discovered a way to streamline a process. O c. There was a flu outbreak and workers had to cover unfamiliar positions. O d. We produced more units than were budgeted.
Compute the direct labor rate variance and the direct labor
efficiency variance. Indicate whether each variance is favorable or
unfavorable.
Use the following information for the Exercises below. [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Actual a lbs. @ $8.20 per Direct materials 60,700 lb. Direct labor Standard (7 lbs. @ $8 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) 16.999 hrs. @...
Check my work Labor spending variance Labor efficiency variance $ 3,200 U $ 900 U Required: 1. For direct materials: a. Compute the actual cost per foot of materials for March. b. Compute the price variance and the spending variance. Ints eBook 2. For direct labor: a. Compute the standard direct labor rate per hour. b. Compute the standard hours allowed for the month's production. C. Compute the standard hours allowed per unit of product. Print Complete this question by...
1. Compute the direct labor rate variance and the direct labor efficiency variance. 2. What is the total variance for direct labor? 3. Who is generally responsible for each variance? 4. Interpret the variances. Direct materials (resin).... ........... 13 pounds per pot at a cost of $3.00 per pound Direct labor ....4.0 hours at a cost of $12.00 per hour . . . . . . . . . . . . . . . . . . . ....
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