Question text DIRECT LABOR VARIANCE ANALYSIS ON PRODUCTION OF SHIRTS: Information Standard Actual Direct material price...
Question text
DIRECT LABOR VARIANCE ANALYSIS ON PRODUCTION OF SHIRTS:
| Information | ||
| Standard | Actual | |
| Direct material price per yard | $5.00 | $5.20 |
| Direct material quantity (yards) | 1,000 | 990 |
| Direct labor rate per hour | $10.00 | $9.75 |
| Direct labor hours | 1,750 | 1,700 |
| Units produced | 2000 | 1990 |
Calculate the Direct Labor Time Variance (select from each drop down box):
| Direct Labor TIME VARIANCE Calculation | ||||
| (Fav)/Unfav | ||||
| Actual DL hours | Choose...9901,7002,0001,9901,0001,750 | |||
| - Standard DL hours | -Choose...9901,7002,0001,9901,0001,750 | |||
| DL hours difference | 10(50)50(10) | Choose...UnfavorableFavorable | ||
| x Standard DL rate per hour | x$Choose...5.2010.009.755.00 | |||
| —— | ||||
| Total Direct Labor TIME VARIANCE | $Choose...500198(425)(500)425(200)200(198) | Choose...UnfavorableFavorable |
Homework Answers
Answer:
| Fav / Unfav | |||
| Standard DL hours | 1,750 | ||
| - Actual DL hours | 1,700 | ||
| DL hours difference | 50 | Favourable | |
| × Standard DL rate per hour | 10 | ||
| Total Direct Labor Time Variance | 500 | Favourable |
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Question text
DIRECT LABOR VARIANCE ANALYSIS ON PRODUCTION OF
SHIRTS:
Information
Standard
Actual
Direct material price...
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REQUIRED: Determine the missing values DIRECT-LABOR PRICE AND QUANTITY VARIANCES ACTUAL LABOR COST Actual Actual Hours Price $8.30 Actual Hours X Standard Price $6.90 STANDARD LABOR COST Standard Standard Hours Price 1,500X $6.90 Direct-labor rate variance $197 Unfav. Direct-labor efficiency variance Direct-labor variance DIRECT-MATERIAL PRICE AND QUANTITY VARIANCES ACTUAL MATERIAL COST STANDARD MATERIAL COST Actual Actual Actual Standard Standard Standard Quantity X Price Quantity Price Quantity X Price 420 420 $345.00 435 x $345.00 $2,950 Fav. Direct-material price variance $8.125...
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