Data on Goodman Company's direct-labor costs are given below: Budgeted direct labor hours 30,000 Actual direct...
Data on Goodman Company's direct-labor costs are given below: Budgeted direct labor hours 30,000 Actual direct labor hours 29,000 Actual direct labor payroll $110,200 Total direct labor payroll activity variance $4,000 F Total direct labor payroll flexible variance $5,800 F What was Goodman's actual direct labor rate? Select one: a. $3.60 b. $3.80 c. $4.00 d. $5.80
Homework Answers
Actual direct labor rate = Actual direct labor payroll / Actual direct labor hours = $110,200 / 29,000 = $3.80
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Data on Goodman Company's direct-labor costs are given below:
Budgeted direct labor hours 30,000 Actual direct...
Connor Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per...
Connor Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attaché case are $46, 58, and $14, respectively. The president is pleased with the following performance report: (Click the icon to view the performance report.) Actual output was 9,400 attaché cases. Assume all three direct-cost items above are variable costs. Requirement Is the president's pleasure justified? Prepare a revised performance report that uses a flexible budget and a static budget. Prepare a revised performance...
Harvin Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per...
Harvin Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attaché case are $37, $9, and $13, respectively. The president is pleased with the following performance report: Actual Costs Static Budget Variance Direct materials 373,000 $ 407,000 $ 34,000 F Direct manufacturing labor 97,200 99,000 1,800 F. Direct marketing (distribution) labor 133,000 143,000 10,000 F Actual output was 9,800 attaché cases. Assume all three direct-cost items above are variable costs. Requirement 1. Is the...
The following data reflect the current month's activity for Vickers Corporation. Actual total direct labor Actual...
The following data reflect the current month's activity for Vickers Corporation. Actual total direct labor Actual hours worked Standard labor-hours allowed for actual output (flexible budget) Direct labor price variance Actual variable overhead Standard variable overhead rate per standard direct labor-hour $671,460 38,000 36,900 $ 12,540 F $154,500 $ 4.10 Variable overhead is applied based on standard direct labor-hours allowed. Required: Compute the labor and variable overhead price and efficiency variances. (Indicate the effect of each variance by selecting "F"...
Wicks company has established a flexible budget for manufacturing overhead based on direct labor-hours. Budgeted costs...
Wicks company has established a flexible budget for manufacturing
overhead based on direct labor-hours. Budgeted costs at 100,000
direct labor hours are given below.
based on direct labor-hours. Budgeted costs at 100,000 direct labor hours are given below. Fl -(10 pts) Wicks Company has established a flexible budget for manufacturing overhead Fill in the estimated costs for 110,000 direct labor hours. 100,000 Flux 110,000 Budgct $ 29,000 99,000 Variable Costs: Packing supplies Indirect labor $70,000 90,000 160,000 76000 Total variable...
The following data reflect the current month’s activity for Vickers Corporation. Actual total direct labor $...
The following data reflect the current month’s activity for
Vickers Corporation.
Actual total direct labor
$
639,115
Actual hours worked
36,500
Standard labor-hours allowed for actual output (flexible
budget)
35,300
Direct labor price variance
$
17,885
F
Actual variable overhead
$
159,400
Standard variable overhead rate per standard direct
labor-hour
$
4.40
Variable overhead is applied based on standard direct
labor-hours allowed.
Required:
Compute the labor and variable overhead price and efficiency
variances. (Indicate the effect of each variance by...
Material and Labor Variances The following actual and standard cost data for direct material and direct...
Material and Labor Variances The following actual and standard cost data for direct material and direct labor relate to Jones Company's production of 2,000 units of a product: Actual Costs Standard Costs Direct material 4,200 lbs. @ $4.90 4,000 lbs. @ $5.10 Direct labor 5,800 hrs. @ $9.30 6,000 hrs. @ $9.50 Determine the following variances: Do not use negative signs with any of your answers, Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable....
The following data reflect the current month’s activity for Vickers Corporation. Actual total direct labor $...
The following data reflect the current month’s activity for Vickers Corporation. Actual total direct labor $ 688,940 Actual hours worked 37,000 Standard labor-hours allowed for actual output (flexible budget) 35,600 Direct labor price variance $ 14,060 F Actual variable overhead $ 165,200 Standard variable overhead rate per standard direct labor-hour $ 4.50 Variable overhead is applied based on standard direct labor-hours allowed. Required: Compute the labor and variable overhead price and efficiency variances. (Indicate the effect of each variance by...
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead...
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead along with the related controllable and volume variances.Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. A detailed estimate of what a product should cost.Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 70,000 units of product were as follows: Standard Costs Actual Costs Direct materials 189,000 lbs. at $6.00 187,100...
is based on budgeted direct labor-hours. The direct labor budget indicates that 7,200 direct labor-hours will...
is based on budgeted direct labor-hours. The direct labor budget indicates that 7,200 direct labor-hours will be required in May. The variable overhead rate is $7.70 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $139,680 per month, which includes depreciation of $24,850. All other fixed manufacturing overhead costs represent current cash flows. The company recomputes its predetermined overhead rate every month. The predetermined overhead rate for May should be: Multiple Choice $23.60 $7.70 $19.40 $23.60 $770 $19.40 $2710...
What was actual direct labor rate per hour? (AP) Standard direct labor hours for units produced...
What was actual direct labor rate per hour? (AP)
Standard direct labor hours for units produced (SQ) Actual direct labor hours worked (AQ) Direct labor efficiency variance, favorable (F) Total payroll 5,200 5,050 $ 9,750 $353,500
Connor Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attaché case are $46, 58, and $14, respectively. The president is pleased with the following performance report: (Click the icon to view the performance report.) Actual output was 9,400 attaché cases. Assume all three direct-cost items above are variable costs. Requirement Is the president's pleasure justified? Prepare a revised performance report that uses a flexible budget and a static budget. Prepare a revised performance...
Harvin Company's budgeted prices for direct materials, direct manufacturing labor, and direct marketing (distribution) labor per attaché case are $37, $9, and $13, respectively. The president is pleased with the following performance report: Actual Costs Static Budget Variance Direct materials 373,000 $ 407,000 $ 34,000 F Direct manufacturing labor 97,200 99,000 1,800 F. Direct marketing (distribution) labor 133,000 143,000 10,000 F Actual output was 9,800 attaché cases. Assume all three direct-cost items above are variable costs. Requirement 1. Is the...
The following data reflect the current month's activity for Vickers Corporation. Actual total direct labor Actual hours worked Standard labor-hours allowed for actual output (flexible budget) Direct labor price variance Actual variable overhead Standard variable overhead rate per standard direct labor-hour $671,460 38,000 36,900 $ 12,540 F $154,500 $ 4.10 Variable overhead is applied based on standard direct labor-hours allowed. Required: Compute the labor and variable overhead price and efficiency variances. (Indicate the effect of each variance by selecting "F"...
Wicks company has established a flexible budget for manufacturing
overhead based on direct labor-hours. Budgeted costs at 100,000
direct labor hours are given below.
based on direct labor-hours. Budgeted costs at 100,000 direct labor hours are given below. Fl -(10 pts) Wicks Company has established a flexible budget for manufacturing overhead Fill in the estimated costs for 110,000 direct labor hours. 100,000 Flux 110,000 Budgct $ 29,000 99,000 Variable Costs: Packing supplies Indirect labor $70,000 90,000 160,000 76000 Total variable...
The following data reflect the current month’s activity for
Vickers Corporation.
Actual total direct labor
$
639,115
Actual hours worked
36,500
Standard labor-hours allowed for actual output (flexible
budget)
35,300
Direct labor price variance
$
17,885
F
Actual variable overhead
$
159,400
Standard variable overhead rate per standard direct
labor-hour
$
4.40
Variable overhead is applied based on standard direct
labor-hours allowed.
Required:
Compute the labor and variable overhead price and efficiency
variances. (Indicate the effect of each variance by...
Material and Labor Variances The following actual and standard cost data for direct material and direct labor relate to Jones Company's production of 2,000 units of a product: Actual Costs Standard Costs Direct material 4,200 lbs. @ $4.90 4,000 lbs. @ $5.10 Direct labor 5,800 hrs. @ $9.30 6,000 hrs. @ $9.50 Determine the following variances: Do not use negative signs with any of your answers, Next to each variance answer, select either "F" for Favorable or "U" for Unfavorable....
is based on budgeted direct labor-hours. The direct labor budget indicates that 7,200 direct labor-hours will be required in May. The variable overhead rate is $7.70 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $139,680 per month, which includes depreciation of $24,850. All other fixed manufacturing overhead costs represent current cash flows. The company recomputes its predetermined overhead rate every month. The predetermined overhead rate for May should be: Multiple Choice $23.60 $7.70 $19.40 $23.60 $770 $19.40 $2710...
What was actual direct labor rate per hour? (AP)
Standard direct labor hours for units produced (SQ) Actual direct labor hours worked (AQ) Direct labor efficiency variance, favorable (F) Total payroll 5,200 5,050 $ 9,750 $353,500
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