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The following information relates to the direct labor at Spendex, Inc. for March: Standard Actual 17.00...
Given the following information regarding direct labor: Actual direct labor hours = 24,000 hours; Actual rate...
Given the following information regarding direct labor: Actual direct labor hours = 24,000 hours; Actual rate per direct labor hour = $14 per hour; Standard direct labor hours per unit = 3 hours per unit; Standard rate per direct labor hour = $11 per hour; Units produced = 9,000 units : -What is the direct labor rate variance? (AR - SR) x AH ? -What is the direct labor efficiency variance? (AH - SH allowed) x SR ?
The following information describes a company's direct labor usage in a recent period. Actual direct labor...
The following information describes a company's direct labor usage in a recent period. Actual direct labor hours used (AH) Actual direct labor rate per hour (AR) Standard direct labor rate per hour (SR) Standard direct labor hours for units produced (SH) 55,000 $ 14 $ 12 56,200 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate and efficiency variances for the period and classify each as favorable, unfavorable...
Harrangue Company's standard variable overhead rate is $6 per direct labor hour, and each unit requires...
Harrangue Company's standard variable overhead rate is $6 per direct labor hour, and each unit requires 2 standard direct labor hours. During March, Harry recorded 6,000 actual direct labor hours, $37,000 actual variable overhead costs, and 2,900 units of product manufactured. What is the variable overhead efficiency variance for March for Harrangue? a.$2,200 (U) b.$1,200 (U) c.$600 (U) d.$2,200 (F) Synergy Manufacturing Company has a normal monthly activity of 7,500 units. Standard factory overhead rates are based on a normal...
Europa Company manufactures only one product. Presented below is direct labor information for November. Standard direct...
Europa Company manufactures only one product. Presented below is direct labor information for November. Standard direct labor hours per unit of product Number of finished units produced Standard wage rate per direct labor hour (SP) Total direct labor payroll for the period Actual wage rate per direct labor hour worked (AP) 4.70 4,800 $ 20.70 $ 418,250 $ 17.50 The direct labor flexible-budget variance for November, to the nearest dollar, was:
Chapter 23: Homework Question 1: (1 point) The following relates to Preston Company: Standard direct materials...
Chapter 23: Homework Question 1: (1 point) The following relates to Preston Company: Standard direct materials cost per unit: 2 pounds at $8.75 per pound. During the current year, Preston purchased and used 5,500 pounds of materials at a cost of $8 per pound to manufacture 2,500 units. Required: Calculate the favorable amount of the materials price variance. When entering the answer in Blackboard, omit $ signs. Chapter 23: Homework Question 2: (1 point) The following relates to Preston Company:...
A. Compute the actual cost per foot for materials for March Actual Cost per foot Compute...
A. Compute the actual cost per foot for materials for
March
Actual Cost
per foot
Compute the price variance and the spending variance.
(Do not round intermediate calculations. Indicate the
effect of each variance by selecting "F" for favorable, "U" for
unfavorable, and "None" for no effect (i.e., zero
variance))
Price Variance
Unfavorable
Spending Variance
Unfavorable
For direct labor:
a. Compute the standard direct labor rate per hour. (Do
not round intermediate calculations. Round your final answer to 2
decimal...
Mlar Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead...
Mlar Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 12.5 pounds 0.8 hours 0.8 hours Standard Price or Rate $12.00 per pound $37.00 per hour $17.50 per hour In January the company produced 3.480 units using 13,920 pounds of the direct material and 2,904 direct labor hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $14,680. The actual direct labor cost...
2. Irving Corporation makes a product with the following standards for direct labor and variable overhead:...
2.
Irving Corporation makes a product with the following standards for direct labor and variable overhead: Standard Quantity or Hours 0.20 hours 0.20 hours Standard Price or Standard Cost Per Rate Unit $30.00 per hour $6.00 $ 6.60 per hour $1.32 Direct labor Variable overhead In November the company's budgeted production was 6,900 units, but the actual production was 6,700 units. The company used 1,520 direct labor-hours to produce this output. The actual variable overhead cost was $9,424. The company...
A. The standard costs and actual costs for direct materials for the manufacture of 2,240 actual...
A. The standard costs and actual costs for direct materials for the manufacture of 2,240 actual units of product are as follows: Standard Costs Direct materials 2,240 kilograms @$8.60 Actual Costs Direct materials 2,300 kilograms The direct materials quantity variance is? Choose the correct answer below $413 favorable $516 unfavorable $516 favorable $413 unfavorable B. The following data relate to direct labor costs for the current period: Standard costs 7,200 hours at $11.30 Actual costs 6,400 hours at $10.80 What...
12) Simmons Company has the following information available for variable overhead costs. Direct labor hours are...
12) Simmons Company has the following information available for variable overhead costs. Direct labor hours are the cost driver for variable overhead costs. Actual variable overhead costs Standard variable overhead costs Actual direct labor hours Standard direct labor hours per unit Units produced $4,700 $1.20 per hour 3,750 hours 5 hours 700 What is the variable overhead spending variance? A) $200 Favorable C) $500 Favorable B) $500 Unfavorable D) $200 Unfavorable
The following information describes a company's direct labor usage in a recent period. Actual direct labor hours used (AH) Actual direct labor rate per hour (AR) Standard direct labor rate per hour (SR) Standard direct labor hours for units produced (SH) 55,000 $ 14 $ 12 56,200 AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate Compute the direct labor rate and efficiency variances for the period and classify each as favorable, unfavorable...
Europa Company manufactures only one product. Presented below is direct labor information for November. Standard direct labor hours per unit of product Number of finished units produced Standard wage rate per direct labor hour (SP) Total direct labor payroll for the period Actual wage rate per direct labor hour worked (AP) 4.70 4,800 $ 20.70 $ 418,250 $ 17.50 The direct labor flexible-budget variance for November, to the nearest dollar, was:
A. Compute the actual cost per foot for materials for
March
Actual Cost
per foot
Compute the price variance and the spending variance.
(Do not round intermediate calculations. Indicate the
effect of each variance by selecting "F" for favorable, "U" for
unfavorable, and "None" for no effect (i.e., zero
variance))
Price Variance
Unfavorable
Spending Variance
Unfavorable
For direct labor:
a. Compute the standard direct labor rate per hour. (Do
not round intermediate calculations. Round your final answer to 2
decimal...
Mlar Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 12.5 pounds 0.8 hours 0.8 hours Standard Price or Rate $12.00 per pound $37.00 per hour $17.50 per hour In January the company produced 3.480 units using 13,920 pounds of the direct material and 2,904 direct labor hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $14,680. The actual direct labor cost...
2.
Irving Corporation makes a product with the following standards for direct labor and variable overhead: Standard Quantity or Hours 0.20 hours 0.20 hours Standard Price or Standard Cost Per Rate Unit $30.00 per hour $6.00 $ 6.60 per hour $1.32 Direct labor Variable overhead In November the company's budgeted production was 6,900 units, but the actual production was 6,700 units. The company used 1,520 direct labor-hours to produce this output. The actual variable overhead cost was $9,424. The company...
A. The standard costs and actual costs for direct materials for the manufacture of 2,240 actual units of product are as follows: Standard Costs Direct materials 2,240 kilograms @$8.60 Actual Costs Direct materials 2,300 kilograms The direct materials quantity variance is? Choose the correct answer below $413 favorable $516 unfavorable $516 favorable $413 unfavorable B. The following data relate to direct labor costs for the current period: Standard costs 7,200 hours at $11.30 Actual costs 6,400 hours at $10.80 What...
12) Simmons Company has the following information available for variable overhead costs. Direct labor hours are the cost driver for variable overhead costs. Actual variable overhead costs Standard variable overhead costs Actual direct labor hours Standard direct labor hours per unit Units produced $4,700 $1.20 per hour 3,750 hours 5 hours 700 What is the variable overhead spending variance? A) $200 Favorable C) $500 Favorable B) $500 Unfavorable D) $200 Unfavorable
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