Just need the answer.Homework Answers
| Labour efficiency variance = (Actual Labour Hours - Standard Labour Hours) x Standard Labour rate | |||||
| Standard labour rate = $8 per hour | |||||
| Actual Labour hours = 2500 hours | |||||
| Standard labour hours = 1000 units * 2 hours per unit = 2000 hours | |||||
| Labour efficiency variance = (2500 hours - 2000 Hours) x $8 = $4000 U | |||||
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Solly Corporation produces a product for national distribution. Standards for the product...
Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12...
Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. • Labor: 2,500 hours worked at a total cost of $20,625. The labor efficiency variance is: o $4,000 U...
Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12...
Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60c per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. • Labor: 2,500 hours worked at a total cost of $20.625. The materials price variance is: Puvo, Inc., manufactures...
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Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 5.4 ounces $ 3.00 per ounce $ 16.20 Direct labor 0.5 hours $ 12.00 per hour $ 6.00 Variable overhead 0.5 hours $ 9.00 per hour $ 4.50 The company reported the following results concerning this product in June. Originally budgeted output 4,200 units Actual output 4,200 units Raw materials used in production 20,400 ounces Purchases...
Sharp Company manufactures a product for which the following standards have been set: Standard Qu...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 3 feet $ 5 per foot $ 15 Direct labor ? hours ? per hour ? During March, the company purchased direct materials at a cost of $45,210, all of which were used in the production of 2,500 units of product. In addition, 4,100 direct labor-hours were worked on the product during the month. The...
The following labor standards have been established for a particular product: Standard labor-hours per unit of...
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The following labor standards have been established for a particular product: Standard labor-hours per unit of...
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Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost 3 feet $5 per foot $ 15 ? hours ? per hour Direct materials Direct labor ? During March, the company purchased direct materials at a cost of $43,335, all of which were used in the production of 2,425 units of product. In addition, 4,000 direct labor-hours were worked on the product during the month. The cost...
16) The following labor standards have been established for a particular product: Standard labor-hours per unit...
16) The following labor standards have been established for a particular product: Standard labor-hours per unit of output Standard labor rate $ 8.7 hours 18.10 per hour The following data pertain to operations concerning the product for the last month: 3,800 hours Actual hours worked Actual total labor cost Actual output $ 67,640 500 units What is the labor efficiency variance for the month? A) $9,790 F B $11,095 U C) $9,955 F D) $11,095 F 1510)
Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60¢ per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. • Labor: 2,500 hours worked at a total cost of $20,625. The labor efficiency variance is: o $4,000 U...
Solly Corporation produces a product for national distribution. Standards for the product are: • Materials: 12 ounces per unit at 60c per ounce. • Labor: 2 hours per unit at $8 per hour. During the month of December, the company produced 1,000 units. Information for the month follows: • Materials: 14,000 ounces purchased and used at a total cost of $7,700. • Labor: 2,500 hours worked at a total cost of $20.625. The materials price variance is: Puvo, Inc., manufactures...
Sharp Company manufactures a product for which the following standards have been set: Standard Quantity Standard Price Standard or Hours or Rate Cost 3 feet $5 per foot $ 15 ? hours ? per hour Direct materials Direct labor ? During March, the company purchased direct materials at a cost of $43,335, all of which were used in the production of 2,425 units of product. In addition, 4,000 direct labor-hours were worked on the product during the month. The cost...
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