7.Claire Company uses a standard costing system. The following information pertains to direct labor costs for...
7.Claire Company uses a standard costing system. The following information pertains to direct labor costs for February: Standard direct labor rate per hour $15.00 Actual direct labor rate per hour $13.50 Labor rate variance $18,000 F Actual output 1,000 units Standard hours allowed for actual production 10,000 hours What is the total labor budget variance for Claire Company? a. $12,000 U b. $12,000 F c. $18,000 U d. $18,000 F
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7.Claire Company uses a standard costing system. The following
information pertains to direct labor costs for...
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...
1. Colina Production Company uses a standard costing system. The following information pertains to the current...
1. Colina Production Company uses a standard costing system. The following information pertains to the current year. Direct labor hours is the driver used to assign overhead costs to products. Actual production 5,500 units Actual factory overhead costs ($16,500 is fixed) $40,125 Actual direct labor costs (11,250 hours) $131,625 Standard direct labor for 5,500 units: Standard hours allowed 11,000 hours Labor rate $12.00 The factory overhead rate is based on an activity level of 10,000 direct labor hours. Standard cost...
Pericloud Company uses a standard costing system. The following information pertains to direct materials for July:...
Pericloud Company uses a standard costing system. The following information pertains to direct materials for July: â Standard price per lb. $20.00 Actual purchase price per lb. $18.00 Quantity purchased 2,000 lbs. Quantity used 1,400 lbs. Standard quantity allowed for actual output 1,450 lbs. Actual output 500 units â Pericloud Company reports its material price variances at the time of purchase. What is the material usage variance for Pericloud Company? a. $1,000 F b. $2,450 F c. $7,850 U d....
1. Lee Manufacturing uses a standard cost system with overhead applied based on direct labor hours....
1. Lee Manufacturing uses a standard cost system with overhead applied based on direct labor hours. The manufacturing budget for the production of 5,000 units for the month of May included the following information. Direct labor (10,000 hours at $15 per hour) $150,000 Variable overhead $30,000 Fixed overhead $80,000 During May, 6,000 units were produced and the direct labor efficiency variance was $1,500 unfavorable. Based on this information, the actual number of direct labor hours used in...
D. $3,700 Fâ Majer Corporation makes a product with the following standard costs Standard Cost Per...
D. $3,700 Fâ
Majer Corporation makes a product with the following standard costs Standard Cost Per Unit $18.00 $ 9.00 4.50 Standard Quantity or Hours Standard Price or Rate $ 9.00 per ounce 15.00 per hour Direct materials Direct labor Variable overhead 2.0 ounces 0.6 hours 0.6 hours 7.50 per hour The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual...
Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity...
Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity for Tyler Company for September: Standard cost per unit Direct materials 4 units of material A x $2.00 unit per 1 unit of material B x $3.00 per unit Direct labor 3 hours x $8.00 per hour Activity for September Materials purchased Material A 4,100 units x $2.05 per unit Material B 1,000 units x $3.10 per unit Materials used Material A 3,750 units...
Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead...
Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Standard Quantity or Standard Price or Cost Per Hours Rate Unit 6.4 ounces $ 3.00 per ounce $19.20 0.4 hours $13.00 per hour $ 5.20 0.4 hours $ 5.00 per hour $ 2.00 The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price...
A company uses a standard costing system. At the end of the current year, the company...
A company uses a standard costing system. At the end of the current year, the company provides the following overhead information: Actual overhead incurred:Variable $90,000 Fixed 62,000 Budgeted fixed overhead 65,000Variable overhead rate (per direct labor hour) 8 Standard hours allowed for actual production) 12,000 Actual labor hours used 11,000 What amount is the variable overhead efficiency variance? a)$8,000 favorable b)$8,000 unfavorable c)$6,000 favorable d)$2,000 unfavorable
A company uses a standard costing system. At the end of the current year, the company...
A company uses a standard costing system. At the end of the current year, the company provides the following overhead information. Actual overhead incurred Variable $86,000 Fixed $64,500 Budgeted fixed overhead $65,000 Fixed overhead rate (per direct labor hour) $ 5 Standard hours allowed for actual production 12,000 Actual labor hours used 11,000 What amount is the volume variance? .$5,000 favorable b.$2,500 favorable c.$2,500 unfavorable d.$5,000 unfavorable
Hurren Corporation makes a product with the following standard costs! Direct materials Direct labor Variable overhead...
Hurren Corporation makes a product with the following standard costs! Direct materials Direct labor Variable overhead Standard Quantity of Standard Price or Hours Rate 3.5 grams $7.00 per gram 1.0 hours $10.00 per hour 10 hours $7.00 per hour Standard Cost Per Unit $24.50 $10.00 $7.00 The company reported the following results concerning this product in J Originally budgeted output 1 Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials...
D. $3,700 Fâ
Majer Corporation makes a product with the following standard costs Standard Cost Per Unit $18.00 $ 9.00 4.50 Standard Quantity or Hours Standard Price or Rate $ 9.00 per ounce 15.00 per hour Direct materials Direct labor Variable overhead 2.0 ounces 0.6 hours 0.6 hours 7.50 per hour The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual...
Computation of Variable Cost Variances The following information pertains to the standard costs and actual activity for Tyler Company for September: Standard cost per unit Direct materials 4 units of material A x $2.00 unit per 1 unit of material B x $3.00 per unit Direct labor 3 hours x $8.00 per hour Activity for September Materials purchased Material A 4,100 units x $2.05 per unit Material B 1,000 units x $3.10 per unit Materials used Material A 3,750 units...
Majer Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Standard Quantity or Standard Price or Cost Per Hours Rate Unit 6.4 ounces $ 3.00 per ounce $19.20 0.4 hours $13.00 per hour $ 5.20 0.4 hours $ 5.00 per hour $ 2.00 The company reported the following results concerning this product in February. Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price...
Hurren Corporation makes a product with the following standard costs! Direct materials Direct labor Variable overhead Standard Quantity of Standard Price or Hours Rate 3.5 grams $7.00 per gram 1.0 hours $10.00 per hour 10 hours $7.00 per hour Standard Cost Per Unit $24.50 $10.00 $7.00 The company reported the following results concerning this product in J Originally budgeted output 1 Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials...
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