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Question 8 (4 points) Idea sells unassembled furniture. They will assemble the furniture for customers if the customers want them to, and are willing to pay for the service. One of Ideas most popular products is a bookcase. Each bookcase should take 1.2 hours to assemble. Idea pays their assembly personnel $12.50 per hour. During November, Ideas employees assembled 200 bookcases using a total of 247 hours. Wages paid to the assembly personnel totaled $3,211. Answer the following questions: 1. How much is Ideas total labor variance? Enter your answer as dollars and cents ($XXXX.XX) but do not use commas, negative signs, etc 2. Is the total variance favorable or unfavorable? 3. How much is Ideas labor quantity variance? Enter your answer as dollars and cents $XXXXXX) but do not use commas, negative signs, etc 4. Is the labor quantity variance favorable or unfavorable? 5. How much is Ideas labor rate (cost) variance? Enter your answer as dollars and cents ($XXXX.XX) but do not use commas, negative signs, etc. 6. Is the labor rate (cost) variance favorable or unfavorable?
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Particulars Direct Labour SH 240 SR AHP AR 12.5 247 13 Labour Rate Variance (LRV) ( SR-AR ) AHP 13 * 247 >>LRV =( 12.5 LRV - -123.5 Unfavourable Labour Quantity Variance (LQV) (SH- AHW) SR >>LQV = ( 240-247 ) * 12.5 SSLQV - -87.5Unfavourable Total Labour variance ( TLV-SH * SR-AHP * AR »TLV = 240 * 12.5 ) - 247 * 13 >TL - 211 Unfavourable Note -1 SH Standard Hours per Actual Output (200*1.2-240) SR = Standard Rate per Hour AHP-Actual Hours Paid AR Actual Rate per Hour.

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